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October 29, 2015, Update - Appointment of GM Monitor

On October 28, 2015, Bart M. Schwartz was approved to serve as the General Motors (“GM”) Monitor on behalf of the Department of Justice. As set forth in the Deferred Prosecution Agreement, the GM Monitor will review and assess the efficacy of GM’s current policies, practices, and procedures in ensuring that GM corrects prior statements and assurances concerning motor vehicle safety; the effectiveness of GM’s current policies, practices, or procedures for sharing allegations and engineering analyses associated with lawsuits and not-in-suit matters with those responsible for recall decisions; GM’s current compliance with its stated recall processes; and the adequacy of GM’s current procedures for addressing known defects in certified pre-owned vehicles. Mr. Schwartz is the Chairman of Guidepost Solutions, a firm that provides monitoring, compliance, and risk management services. Mr. Schwartz has previously served as monitor or compliance expert for a number of companies, including Point72 Asset Management (formerly SAC Capital Advisors), Deutsche Bank A.G., DHL Express, and BP. From 1983 to 1986, Mr. Schwartz served as Chief of the Criminal Division of the U.S. Attorney’s Office for the Southern District of New York under U.S. Attorney Rudolph Giuliani.  In that post, he oversaw prosecutions related to financial and business fraud, among other types of white-collar crime.  The public can contact Mr. Schwartz at GMMonitor@guidepostsolutions.com.

Updated October 29, 2015

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