GM Says Head Of China Unit Will Retire
NEW YORK (AP) -- General Motor Corp. says Bob Socia, the president of GM China, will retire on Jan. 1.
The company said Friday Matthew Tsien will replace Socia. Tsien, 53, is in charge of planning and program management for GM China and GM Consolidated International Operations and Strategic Alliances for China.
Socia, 59, has worked for GM since 1975, while Tsien joined the company in 1976.
China has been a bright spot for the GM while sales in India, Australia and Southeast Asia have struggled. The company sold 2.6 million vehicles in China over the first 10 months of 2013, up about 11 percent from the same period in 2012. GM earned about $400 million in China in the third quarter, offsetting losses in other international operations.
The Detroit company says its joint ventures in China will invest $11 billion in vehicles, facilities and people through 2016.