Two Pontiacs Remain for 2010, Former Toyota Executive Takes on CEO Role

Although GM has decided to eliminate the Pontiac brand, as part of its new reorganization plan, the embattled automaker will continue to produce its only joint venture vehicle with Toyota, the Pontiac Matrix, and keep the American made G6 in its portfolio for the 2010 model year.

As a side note, GM has selected a former telephone company executive to become the new Chairman for the automaker, while Chrysler, under its new approved reorganization with Fiat, has promoted Jim Press, the first American executive to serve on the board while at Toyota, to deputy CEO. I believe this is a good move. Many critics believe Press should have been appointed to that position initially, as opposed to Bob Nardelli, who drove Home Depot into the ground as CEO of the world's largest home improvement company, before he was forced to leave.