DETROIT, March 1 (UPI) -- Reeling from a 3.4 percent stock dip after disappointing February sales, General Motors Corp. Tuesday announced a major organizational shakeup.
Among the changes, marketing head John Smith was replaced by GM North America vice president of marketing and advertising Mark LaNeve, the manager credited with turning around the Cadillac division with a stable of new products.
A new position was created for Smith as group vice president of global product planning.
Jim Queen, vice president of GM North America engineering, was named to the new position of vice president of global engineering, and Ed Welburn, head of GM North America design, was named GM vice president of global engineering.
Welburn and Smith will report to Bob Lutz, chairman of GM North America.
"These changes will accelerate our efforts to get more great cars and trucks to market faster, to provide more value to our customers and to increase our global sales," said GM Chairman and CEO Rick Wagoner.