This paragraph is in a section entitled "Improper Use of Confidential Information.". Based in Shanghai, he supervised the growth of GM’s alliances and other partnerships across the region while exploring new business opportunities. Plaintiff admits to backdating ten asset transfer forms, the first of which is dated August 15, 1987. Throughout the course of this litigation, Plaintiff's counsel has persisted in a "shotgun" approach to this case, refusing to confine himself to any particular set of allegations or legal theories. Just to the right of the long blank is a smaller blank, under which the word, "Date," appears. The talks were preceded by a kerfuffle over the Blazer this spring. Further, the daily price of GM common stocks was available to employees, including Plaintiff, from the GM Newsline. 79. (Fact 84). § 1132(a) (3). The penalty would deter the nation’s largest gas company from continuing to abuse ratepayer dollars, a California consumer watchdog agency says. If Plaintiff was entitled to the money under the terms of the plan, then certainly the reconciliation violated the terms of the plan. Reuss was born and raised in metro Detroit and is deeply committed to revitalizing the region via education, community and philanthropy. Plan administrators were expected to process the transactions as soon as possible but not later than the expiration of the input period. Plaintiff received a Bachelors Degree in Business Administration in 1965 from Northern Michigan University. The Sixth Circuit has stated that "a breach of contractual duty is required for liability to attach under § 1132(a) (3)," Id., and this court has determined that the defendants did not breach any contractual duty either express or implied in this case. The "actuarial soundness" of the fund could be called into question if some participants could extract large recoveries from GM on the basis of oral representations, and those relying on the written terms of the plan would suffer correspondingly. The court heard oral arguments on the cross motions for summary judgment on October 26, 1994, and on October 28, 1994 the court issued an order denying both motions. Neither the words "Signature of Participant," nor the word "Date," nor the blanks above those words is ambiguous or confusing. U.S. voters are starkly divided over Trump’s response to COVID-19. The confirmation was titled "Transfer of Assets Receipt" and stated, "In accordance with your request, the following transfer has been processed effective [date]." He then held subsequent regional controllership positions responsible for Latin America, Africa, the Middle East and General Motors International Operations. 41. Reuss is a member of the Duke Fuqua School of Business Board of Visitors and is GM’s key executive at Duke University. Senior Vice President, Global Communications. In this case, no express term of the plan was violated by the defendants; the plan simply does not speak to the situation that arose in this case. 26. Accordingly, GM could not be said to have ratified Krager's conduct by silence. Accordingly, the effective date of an asset transfer could not be earlier than the date on which the Administrator's representative (here, Kay Krager) actually took possession and control of a completed written application to the Trustee seeking to transfer assets. Plaintiff testified that the local plan administrator, Kay Krager, suggested to him the idea of backdating as a legitimate way for him to avoid downturns in the market and make up for missed opportunities. There was one administrator plus one backup in each facility. IT IS FURTHER ORDERED AND ADJUDGED that this action is DISMISSED. The word "received" in the above-quoted provision is not ambiguous. A portion of participant savings (one-half of the first ten percent) is required to be invested in the common stock of GM for two and one-half years. "If the oral policy does not qualify as a plan, then the statements are no more than oral representations. The Administrator received the written application to the Trustee for benefits when that application was physically delivered to Kay Krager, the local plan administrator, after (or coincident with) having been filled out and signed by the participant. He has held numerous engineering and management positions, including chief engineer of GM’s large luxury vehicles and manufacturing body shop tooling launches. 90. Additionally, Brycz has served as the GM executive champion sponsor for Making Strides Against Breast Cancer. 77. 45. S-SPP. Id. (Fact 78). §§ 1104 and 1105 in terminating his employment. [14] Furthermore, GM utilized a rational and fair method of determining the amount to be recovered. From 2013-2018, Reuss was executive vice president, Global Product Development, Purchasing and Supply Chain, and led program management of GM cars, trucks and crossovers worldwide. Plaintiff received a Masters of Business Administration from Central Michigan University in 1979. [5] Plaintiff presented no such "agency theory" of recovery in his Answer to Defendants' Motion to Dismiss for Failure to State a Claim nor, to the court's recollection, did he do so at oral argument on the motion. 81. Additionally, she serves as the Chair and founding member of GM’s Inclusion Advisory Board. *1512 Count II alleges violation of 29 U.S.C. Julian Blissett was appointed executive vice president and president of GM China in April 2020. This case's procedural history spans nearly four years of vigorous litigation by both parties, including a motion to dismiss for failure to state a claim on which relief can be granted, three motions for summary judgment, an appeal to the United States Court of Appeals for the Sixth Circuit, and a non-jury trial. Plaintiff's backdating of asset transfer forms allowed him to avoid much of the negative impact of the stock market crash of 1987. Therefore, one could not reasonably expect the effective date of the election to transfer assets to be before delivery of the form to the plan administrator. Alan M. Wexler was appointed senior vice president of Innovation and Growth in August 2020. GM was not negligent in its administration of the S-SPP. 59. In June 2007, he received the "Roger Milliken Career Achievement Award" from the Voluntary Interindustry Commerce Solutions Association for his dedication and contributions to enabling the retail and consumer-focused industries through the creation and implementation of supply chain standards and best practices. In 2016, he joined U.S. Prior to this role Kiefer spent five years as senior vice president, Global Purchasing and Supply Chain. She graduated with a Bachelor of Science degree in electrical engineering in 1985, followed by a Master of Business Administration from the Stanford Graduate School of Business in 1990. 37. Statements of fact in this section are generally followed by a citation to one or more numbered findings of fact from the previous section in the following manner, (Fact ____). If Armistead applies to apparent authority and ratification, as well as equitable estoppel, then these theories are available for plaintiffs whose claims involve welfare plans, but not for plaintiffs whose claims involve pension plans. While employed by GM, Plaintiff participated in General Motors Savings-Stock Purchase Program for Salaried Employees in the United States ("SSPP"). But … If so, the administrator's decisions on issues involving the exercise of that discretion are properly reviewed under a deferential standard, while all other decisions are properly reviewed de novo. In March 2010, he was appointed GMIO executive director of Manufacturing Engineering. In 2005, he was appointed executive director of GM’s North America Vehicle Systems and Architecture, and a year later was named executive director of Global Vehicle Integration, Safety and Virtual Development. Because the plan confers great discretion on GM as administrator of the S-SPP, a deferential standard of review is appropriate under 29 U.S.C. Dividends and GM contributions to Plaintiff's account were not deducted. Prior to becoming treasurer, Gupta was the chief investment officer and chief executive officer of General Motors Asset Management Corporation, the investment management subsidiary of GM. In this role, he is responsible for global leadership and oversight for external reporting, technical accounting matters, development of new accounting policies, internal controls and the consolidations process. 88. They were signed by Richards and Krager and bore the same date next to the signatures. Kay Krager and Robert Richards communicated about the practice of backdating his asset transfer forms to take advantage of more favorable past valuations. Carlisle also holds a Bachelor of Applied Science in systems design engineering from the University of Waterloo and a Master of Business Administration from the Sloan School of Management at the Massachusetts Institute of Technology. Tsien entered General Motors Institute (now Kettering University) at the age of 15 and received a bachelor’s degree in electrical engineering. 53. 101. Prior to this appointment, Parks was vice president, Autonomous and Electric Vehicle Programs since February 2016. On March 26, 1992, the court granted Defendants' motion to dismiss. In Facts 55-65, 78-91 and elsewhere, the court specifically finds that it is more likely under the circumstances of this case that the procedure providing advantageously false investment dates which would nonetheless be accepted by the computer system was discovered or developed by others, and Krager, knowing it was wrong, simply went along with the implementation of it. § 1140, Plaintiff must show that the money he gained from transfers involving backdated transactions which Defendants removed from his account was "due to him under the terms of his plan" or that Defendants' reconciliation of his account violated the terms of the plan. Id. The results to him, including substantial avoidance of the ill effects of the "Crash of '87," would be absolutely astounding to any sensible and reasonably intelligent college graduate, especially one with a masters degree in business administration. Indeed, because the reconciliation left the dividends and GM's contribution in his account, Plaintiff *1510 may well have actually gained from Krager's alleged advice. A GM brochure entitled, "Guidelines for Employe [sic] Conduct" provides, (Exhibit 115, p. 20). Richards's professed belief in the legitimacy of his actions is contrary to common sense and is belied by his testimony that he did not discuss this very valuable benefit with any of his coworkers, even in the face of a major stock market crash. Plaintiff ultimately voluntarily dismissed his deprivation of assets/conversion claim, stating that it appeared to him that the count was "a state law claim probably preempted by reason of Section 514 of ERISA." Plaintiff's First Amended Complaint (D. 24) advanced three counts breach of fiduciary duties, a claim under 29 U.S.C. In 1996, Mott was promoted to Wal-Mart's executive committee and in 1997 InformationWeek named him "Chief of the Year.”.
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