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| Photo: General Motors |
Stempel led the Detroit automaker through one of its toughest times in the early '90s. While Stempel was only chairman and CEO of GM for two years (from 1990 to 1992), he began his career with the automaker in the 1950s as an engineer with Oldsmobile and slowly made his way up the ranks.
Peers of Stempel remember his dedication to the brand and the automotive world. And it's thanks to Stempel that one of the great environmental advancements in auto history, the catalytic converter, came to be. And he didn't stop there. Stempel is also responsible for the push towards the development of the EV1 electric car, thanks to his knowledge of battery development. And even after he left GM in 1992, he continued in the field, joining Energy Conversion Devices Inc., a Detroit-based company specializing in nickel-metal hybrid batteries and solar panels.
The early '90s were a rough period, not just for Detroit, but for all of America. Saddam Hussein's forces invaded Kuwait which triggered the Persian Gulf War, which pushed the U.S. Economy into a recession. We all know what recessions do; they suck car sales dry and automakers suffer. GM was no exception.
During Stempel's first year as chairman and CEO of GM, the company lost $4.45 billion and he closed dozens of plants and cut tens of thousands of jobs. Stempel is also responsible for the contract with UAW that saw laid-off GM employees receive 95% of their pay -- something that would come back to haunt the company much later.
Despite his tumultuous time at GM, Robert Stempel managed to make a serious impact on the company and his loss will be felt across the industry.