The largest automaker in the world is implementing massive changes that are not only designed to lower down costs but also to further enhance the efficiency of the company's management. And to start with, General Motors has announced last Friday in a federal filing that it will amend three sections of its company bylaws. The said amendments are expected to affect the range of directors authorized to serve on the board. There would also be a newly-implemented authorization for the board to establish an administrative committee that would take care of unique matters concerning the company.
The company's board is deciding on having 12 members however that number is not fixed and may change from time to time depending on the newly-defined range. Currently the board is comprised of 12 members and would make a resolution in case it chooses to officially add one or subtract a board seat due to vacancy or for some other reasons.
Melisa Tezanos, GM spokeswoman said, "The board is affirming best practices' that are becoming common in corporate governance.
Furthermore, GM's board is also given the freedom to establish an administrative committee that would deal with various matters that are not solely reserved to the jurisdiction of the board or one of its committees according to its delegation of authority.
The third change that will transpire would change and identifies the specific committees of the board in which an annual election will be conducted to choose new members and chairmen. This however is subject to a requirement that only independent directors shall be members. The specific committees stated in the third amendment will include the investment fund committee, the executive compensation committee, the audit committee, the public policy committee and the directors and corporate governance committee.
Right-Hand-Drive Chevrolet Models Coming Soon
In other news, the world's largest automaker and producer of top-of-the-line has reported that it will developed future right-hand-drive Chevrolets. General Motors has decided to restructure its product development for the brand and at the same time assigned different platforms to its various global technical centers. This means that future Chevrolets will be developed all over the world and that includes Europe plus lesser reliance on the GM-Daewoo technical centre in Korea.
Unfortunately for the retro styled HHR mini-MPV the decision comes too late. This car is produced in the US and was launched in Europe at the Geneva Motor Show however it's only left-hand drive and because of that won't be available in Britain. GM on the other hand has confirmed that instead of the HHR, the new Camaro muscle car which is built as a right-hand-drive car will be made available in the UK.
The first products that are scheduled for the new right-hand-drive structure are going to be the replacements for the Kalos and Lacetti models which are to be developed in the production facility of GM in Korea that have the C platform responsibility. Next in line is the future Vauxhall Astras which will also have the same C platform.
It is expected that the globalization of GM's product development will at least take five to six years and is seen as a great way to iron out the different perceptions of the brand in various markets.
