Auto maker puts particular focus on China
General Motors Co. shuffled its executive ranks again, placing its crucial China division under its own chairman while appointing the former chief executive of Swedish auto maker Volvo Cars to oversee the auto maker’s remaining international operations. Stefan Jacoby, 55, on Monday joins as executive vice president of the auto maker’s consolidated international operations, overseeing Europe, Africa, Asia-Pacific, and the Middle East. Tim Lee, 62, who had been president of the company’s international operations, will become chairman of GM China. The position would allow a single executive to focus on GM’s China operations, which include 12 joint ventures and 55,000 employees. Mr. Jacoby and Mr. Lee will report directly to Chief Executive Dan Akerson, the company said. However, the auto maker’s financial results in China will continue to be reported under overall international operations, it added. GM’s International Operations is the company’s second largest profit source after North America. The move is a strategic strike by GM to bolster the auto maker’s management firepower in China as the country grows in importance as the world’s biggest automotive market.
Source: The Wall Street Journal