If product excellence is the key to General Motors Co.’s chances for a true comeback, the challenge to make it happen falls squarely on the shoulders of tall, bearded Tom Stephens. At 61, Stephens is a 40-year GM veteran who in April was named vice chairman-global product development, filling the shoes of Bob Lutz, who planned to retire at year’s end. Since then, Lutz has agreed to stay on to head up marketing and communications and to continue working with Stephens and Vice ...

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