BRIEF-GM CEO Barra says part used didn't meet performance requirements, problem was misdiagnosed

Thu Jun 5, 2014 10:26am EDT
 
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DETROIT, June 5 (Reuters) - General Motors Co CEO Mary Barra, President Dan Ammann and global product development chief Mark Reuss speaking to the media: * CEO Barra says part used didn't meet performance requirements and problem was

misdiagnosed * CEO Barra says those fired represent many functions, most in senior or

executive roles * CEO Barra says tragic set of events * CEO Barra did not address whether company would waive liability shield gained

through bankruptcy, says compensation fund program voluntary * CEO Barra says report indicates part change was not communicated inside the

company * CEO Barra says no trade-off of cost versus safety was deemed because it was

deemed to have been a customer satisfaction issue not customer safety * President Ammann says compensationfund will focus on those injured or who

lost lives, when asked whether those whose cars lost value would be inclluded * CEO Barra says two engineers on leave no longer part off company * CEO Barra says well over half of employees fired were executive level or

higher * Product development chief Reuss says his team now more integrated with legal * CEO Barra says it was not necessarily the case that employees involved in the

failure to catch bad switch had already left company * CEO Barra says has spoken with secretary of transportation and key members of   Continued...