Gm’S Wagoner Takes Over As Ceo

General Motors Corp., the world’s largest auto company, is betting its future on new Chief Executive G. Richard Wagoner’s expertise in production efficiency and his willingness to let the company’s auto designers spread their wings and erase GM’s image as a me-too carmaker.

Wagoner, named Wednesday to succeed John F. Smith Jr. as chief executive, faces formidable challenges, but chief among them will be to regain some of the market share the company has lost in the past three decades.

Industry watchers believe that the 22-year veteran of GM’s often-tumultuous management wars has a good chance to succeed.

“He’s a great leader who knows what he doesn’t know and is willing to defer,” said David Cole, director of the University of Michigan’s Office for the Study of Automotive Transportation.