by Archana Subramaniam by CNB
Roanoke Times Copyright (c) 1995, Landmark Communications, Inc. DATE: WEDNESDAY, March 24, 1993 TAG: 9303240076 SECTION: BUSINESS PAGE: B7 EDITION: METRO SOURCE: The New York Times DATELINE: DETROIT LENGTH: Short
GM LOSES 6 MORE EXECUTIVES
General Motors Corp. on Tuesday confirmed the resignation of three top purchasing executives and three mid-level buyers, all confederates of Jose Ignacio Lopez de Arriortua, who resigned last week to become the No. 2 executive at Volkswagen A.G.The six GM employees, who resigned Monday, "presumably went to Volkswagen, but we don't know for sure," said Antonette Simonetti, a GM spokeswoman. All six are Europeans who, like Lopez, had worked for GM in Europe. They had joined him in Detroit during the past year.
The seven executives presumably possess sensitive competitive information about GM's future products and the prices GM pays for automotive materials and components. The information will be useful in trying to squeeze costs from VW's bloated system, analysts say, and in determining where VW might seek advantages in developing new vehicles.