USA - General Motors Vice Chairman and Chief Financial Officer General Fritz A. Henderson
General Motors Vice Chairman and Chief Financial Officer General Fritz A. Henderson answers questions after Chairman and Chief Executive Officer Rick Wagoner announced new cost saving measures in Detroit, Michigan, on Tuesday, 07 February 2006. The reductions announced toady include: 50-percent reduction in the cash dividend paid to stockholders; Significant reduction in salary for GM's chairman and senior leadership team; 50-percent reduction in compensation for outside board members. Revised health-care benefit plan for salaried retirees in the U.S. that is expected to reduce the company's liability by about $4.8 billion and its annual health-care expense by almost $900 million before tax; Planned restructuring of the U.S. salaried pension benefit plan.
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