Bob Lutz would retire from GM at the end of 2009

Bob Lutz would retire from GM at the end of 2009

GM has announced that their current Vice Chairman Bob Lutz would retire from his position in the company at the end of the current year.

He said in a statement that his age and skills may not be compatible with a new era of government regulation of the industry.

GM is struggling in the domestic market as customers now prefer to go for fuel efficient cars offered by Japanese and South Korean automakers.

Lutz added: “It’s now a business environment that doesn’t really play to my greatest skills, which were perhaps more in the intuitive, emotional area with sort of a sense for what the market would want. I think we’re entering an era where what the market would want is going to take to some extent a back seat to what is going to be required by government regulation.”

GM added that Thomas Stephens would replace Lutz. Thomas Stephens is currently the executive vice president of global powertrain and quality.