Former Exide CEO Joins GM as Vice Chairman of Product Development

General Motors Corp. (Detroit, MI) announced that it has hired Robert Lutz, former CEO of Exide Technologies (Princeton, NJ), as vice chairman for product development. Lutz will be replacing Tom Davis, who will retire in the first quarter of 2002. Lutz, whose agreement runs three years, will report to President and CEO Rick Wagoner.

"I'm taking this job because it is truly a once-in-a-lifetime opportunity, the opportunity to help in the ongoing rebuilding of not just an American icon but a global icon," Lutz said. "At the same time, I'm both pleased and gratified that the board of Exide Technologies has strongly endorsed my continuing role as chairman of that also-great, 113-year-old company, a position I plan to retain as long as the board will have me."