G.M. Names Rick Wagoner Chairman

By Agence France-Presse General Motors Corp. CEO and President G. Rick Wagoner Jr. will add the duties of chairman to his portfolio in May of 2003, the Detroit-based automaker said Dec. 3. Wagoner will replace current Chairman John F. (Jack) Smith Jr., who is retiring after 42 years with the company. Smith also will leave the G.M. board May 1. "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," Wagoner said in a statement. "I look forward to working with our G.M. team, our dealers, our suppliers, and our unions, to keep G.M. on the favorable track that we've experienced in recent times in many markets around the globe." Copyright Agence France-Presse, 2002