GM Chairman Smith Announces Retirement

General Motors Corp. Chairman John F. Smith Jr., who rose to power after a 1992 boardroom shuffle, said he will retire in April after 42 years with the company.

Smith was chief executive from 1992 to 2000, when he handed that post to Rick Wagoner. Smith told shareholders at the auto maker’s annual meeting that he will leave at his next birthday, when he reaches the mandatory retirement age of 65.

Directors will name a successor by the end of next year’s first quarter, he said.

As chairman, Smith took a leading role in shaping GM’s alliance strategy, which includes stakes in auto makers Fiat, Isuzu Motors Ltd. and Fuji Heavy Industries Ltd. Smith also was involved in GM’s agreement to buy some assets of Daewoo Motor Co.

Smith plans to return to Massachusetts and help his son in his grocery businesses.