Magazine article American Banker

GM Appoints Credit Card Chief

Magazine article American Banker

GM Appoints Credit Card Chief

Article excerpt

Henry D. "Hank" Weed 3d has been promoted to managing director of General Motors Credit Card Operations.

He replaces Ronald N. Zebeck, the former general manager, who left GM last November and resurfaced a few months later at Fingerhut Cos., a multimedia marketing firm.

Mr. Weed, 49, will report to Philip Guarascio, vice president and general manager of marketing and advertising for GM North American Operations. As managing director, he will be responsible for administrative, promotional, marketing, and business development activities involving the GM MasterCard.

A GM veteran, Mr. Weed began his involvement with the card program nearly a year before its September 1992 launch. He was named general marketing manager for the GM Card in October 1991, With overall responsibility for marketing programs m North America, plus the formation of strategic partner programs and overseas development.

Since November 1993, he has been acting business unit manager for the GM card. His charge today is an expansion of those duties.

"One of the things that we've been.facing is how to maximize the value of the GM card to customers and to the company to satisfy our main objective of selling cars and trucks," he said in an interview.

GM has been looking for ways to enhance the product, he added. "We've been spending a good portion of our time looking for the next GM card. We feel we have to innovate to stay ahead."

Mr. Weed hinted that the Detroit automaker would have significant announcements regarding the credit card program during the holiday season and in the first quarter of 1995. …

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