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) May 25, 2001
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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 May 25, 2001, General Motors Corporation issued a news release
announcing Harry Pearce was named Chairman of Hughes Electronics Corporation,
retires from GM. The release is as follows:
GM Vice Chairman Harry Pearce Named Chairman of
HUGHES Electronics Corp., Retires from GM
DETROIT -- General Motors Corp. Vice Chairman Harry J. Pearce today
announced his decision to accept the position of Chairman of Hughes Electronics
Corp. and retire from GM, effective immediately, capping a 16-year career at the
world's largest vehicle manufacturer.
In his new capacity, Pearce will oversee the activities of the GM subsidiary,
including HUGHES' consideration of strategic restructuring alternatives.
"No one has enjoyed their work at General Motors more than I have," Pearce
said. "I can look back proudly at a multitude of accomplishments of the men and
women of GM. I am honored to have worked with them over these last 16 years.
I now look forward to working alongside the people of HUGHES to assure that
this great organization achieves its fullest potential for the benefit of its
employees and all stakeholders," Pearce said.
Pearce has been vice chairman of the GM Board of Directors since 1996, with
responsibility for GM's non-automotive businesses, including HUGHES, Allison
Transmission Division, Electro-Motive Division and GM Defense; the Public Policy
Center; the Office of the Secretary; and the Enterprise Activities Group.
Pearce will not stand for election to the GM Board of Directors at the
company's annual meeting on June 5, 2001.
"We'll miss Harry for a lot of reasons," GM Chairman Jack Smith said. "Mostly
for the culture he has instilled within GM and its people to do the right thing
in all situations, be socially responsible, and fight for what is right."
"Harry has inspired all of us on both personal and professional levels," GM
President and CEO Rick Wagoner said. "He has been a model of strong, ethical
leadership for the company. His greatest legacy is most likely to be his
positive contributions to the lasting values of this company."
Pearce joined General Motors as associate general counsel in October 1985,
assuming responsibility for all product litigation and product safety matters
worldwide. From May 1987 to August 1994, Pearce had been general counsel with
responsibility for GM's Legal Staff, and was elected GM executive vice president
on November 2, 1992. He was elected to the GM Board of Directors as vice
chairman on Jan. 1, 1996.
Prior to joining GM, Pearce had been a senior partner in the firm of Pearce &
Durick of Bismarck, N.D. In that capacity, he represented GM and other
industrial companies nationwide in a variety of product liability cases over a
period of 15 years.
Pearce, 58, said his decision to retire from GM was unrelated to any health
issues. He successfully battled leukemia after he was diagnosed in 1998. He also
said the prognosis for GM was excellent.
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"The strategies it has been successfully pursuing have placed GM in an
excellent position," Pearce said. "It's delivering on its promise to produce
innovative, high-quality products and services that our customers want. It's
redefining itself in terms of the global marketplace and expanding business
opportunities. And, most importantly, it has the best people in our industry who
will continue to drive success in the future."
In connection with Pearce's retirement, the GM Board of Directors has elected
Tom Gottschalk Executive Vice President - Law and Public Policy, reporting to
Wagoner. Gottschalk will also continue as General Counsel for the company.
# # #
Note to Reporters:
General Motors and HUGHES Electronics will host a teleconference for news media
beginning at 1:00 p.m. EDT today (10:00 a.m. Pacific). HUGHES Chairman Harry
Pearce and CEO Jack Shaw will preside. Following brief opening remarks by Mr.
Pearce, there will be a question-and-answer session. To access the conference
call, please call 1-800-553-0326 (Non-US callers should dial 1-612-288-0318) 10
minutes prior to the start time and ask to be connected to the General Motors
conference call.
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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 May 25, 2001
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By
s/Peter R. Bible
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(Peter R. Bible,
Chief Accounting Officer)
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