The latest auto head to retire is Bob Lutz, the veteran industry executive responsible for overhauling General Motors will retire on May 1. He held the position of vice chairman at GM, where he was charged with helping guide CEO ED Whitacre with the restructuring.
The 78-year-old Lutz said he could “retire in peace” in an email to the Associated Press on Wednesday adding, "The whole organization, top to bottom, now has absolute product superiority as the highest objective which enables all others. So, I can retire in peace." GM has eliminated four of its underperforming brands in order to better concentrate on the products and development of the remaining four, Chevrolet, Buick, GMC and Cadillac.
Lutz voiced particular pride toward the most recent accomplishment out of Chevy, the gas-electric sedan the Chevrolet Volt. The Volt has been in development for some time and has the capacity to go up to 40 miles on battery-power. He also listed the Buick LaCrosee, Cadillac SRX, GMC Terrain, Chevrolet Camaro and Equinox as victories for GM.
Lutz announced at the beginning of 2009 that he would retire at the end of the year but stayed at the request of former CEO Fritz Henderson who asked him to guide the company through its bankruptcy.
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