DETROIT General Motors Co (GM.N) has hired a top Delphi Automotive Plc (DLPH.N) executive to lead the largest U.S. automaker's global powertrain operations beginning next month, GM announced on Monday.
Steve Kiefer, who has led Delphi's powertrain systems unit since 2011, fills a position that has been left vacant for more than two years. He will start at GM on September 1.
His hiring comes as GM tries to lop off about $1 billion a year in product development costs and boost its margins to better compete with U.S. rival Ford Motor Co (F.N).
Kiefer, 50, will report to Mary Barra, head of GM's global product development unit, and will be based at GM's powertrain headquarters in Pontiac.
(Reporting by Deepa Seetharaman. Editing by Andre Grenon)