General Motors names long-time insider Mark Reuss as its president

Mark Reuss, General Motors Executive Vice President Global Product Development, speaking last January.
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Mark Reuss, General Motors Executive Vice President Global Product Development, speaking last January.

General Motors named long-time insider Mark Reuss as its president, effective immediately.

Reuss formerly led GM's global product group and Cadillac. His duties will now include overseeing GM's quality organization.

GM reported fourth-quarter sales on Thursday that fell more than 2 percent over the the same period last year.

Shares of GM were down more than 1 percent in premarket trading.