Wagoner named president of GM

GENERAL MOTORS, the US motor giant, named G Richard Wagoner Jr as its president and chief operating officer, promoting him from chief of North American operations. The world's largest car maker announced the promotion yesterday in Detroit as it merged its North American and international businesses to cut costs and streamline decision making.

Mr Wagoner will head the new GM Automotive Operations business, overseeing four regional car makers. He becomes a strong contender to succeed John F Smith Jr, the GM chairman and chief executive.