SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549-1004
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report
(Date of earliest event reported) December 3, 2002
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GENERAL MOTORS CORPORATION
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(Exact name of registrant as specified in its charter)
STATE OF DELAWARE 1-143 38-0572515
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
300 Renaissance Center, Detroit, Michigan 48265-3000
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (313)-556-5000
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ITEM 5. OTHER EVENTS
On December 3, 2002, a news release was issued by General Motors
Corporation (GM) announcing the election of G. Richard Wagoner, Jr. as Chairman
and Chief Executive Officer effective May 1, 2003. The release is as follows:
GM Names Wagoner next Chairman
DETROIT - The General Motors Board of Directors today announced it has elected
Rick Wagoner chairman and chief executive officer (CEO), effective May 1, 2003,
following the retirement of current GM Chairman Jack Smith, after 42 years of
distinguished service. Smith will also leave the GM board at that time.
Smith has been chairman since Jan. 1, 1996, and held the offices of CEO from
1992 though 2000, and president from 1992 through 1998. He was first elected a
GM director in 1990.
"Rick is the perfect leader for General Motors going forward. His global
experience, commitment to product and technology leadership, his proven track
record of continuously improving all aspects of the company's operations, and
leadership style, with an emphasis on strong people and strong teamwork, are the
right attributes to lead GM into the future," Smith said.
Wagoner has been president and CEO since June 2000, and was previously president
and chief operating officer from 1998 through 2000. Prior to that, he was
executive vice president and president of GM North America from 1994 through
1998. He became a GM director in 1998.
"The GM Board of Directors was unanimous in its selection of Rick as the next
chairman," said George Fisher, who as chairman of the Committee on Director
Affairs, chairs executive sessions of the GM board. "While filling Jack's shoes
is a formidable task, we are confident that Rick will lead GM successfully in
this highly competitive industry. In his recent assignments, Rick has worked
closely with the board and proactively drawn upon its diverse experience, and we
look forward to continuing and expanding that close working relationship."
Wagoner has been with GM since 1977 and has held a number of executive positions
around the world, including vice president - Finance of GM Europe, and president
and managing director of GM do Brasil, before coming back to the United States
in 1992 as executive vice president and CFO.
"I have had the privilege of working with Jack for a long time, and he has been
a superb leader and role model," Wagoner said. "He has had a tremendously
positive impact on General Motors and me personally, and I fully expect the
transition to be seamless. We will work hard to continue GM's, and Jack's,
tradition of honesty, integrity and transparency, and respect for all of our
stakeholders.
"Jack took over as our CEO at one of the most difficult times in GM history,"
Wagoner continued. "He led us in a complete restructuring of our then-troubled
North American business, which we continue to build on today, and at the same
time championed important strategic investments in China and other growth
markets. Jack has put GM on a solid foundation, and we'll build on that as we go
forward.
"My priorities are clear. We'll continue to bring out `gotta have' products,
compete aggressively in the marketplace, and drive quality and cost
improvements, while we work to strengthen our balance sheet. I look forward to
working with our GM team, our dealers, our suppliers, and our unions, to keep GM
on the favorable track that we've experienced in recent times in many markets
around the globe."
The GM board currently consists of 12 members, of whom only two are executives
in the corporation. Only outside directors participate in the election of the
chairman.
General Motors, the world's largest vehicle manufacturer, designs, builds and
markets cars and trucks worldwide, and has been the global automotive sales
leader since 1931. GM employs about 355,000 people around the world.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GENERAL MOTORS CORPORATION
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(Registrant)
Date December 3, 2002
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By
/s/Peter R. Bible
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(Peter R. Bible,
Chief Accounting Officer)