The General Motors Board of
Directors has announced it has unanimously elected Mary Barra as its next
Chairman, effective immediately. She succeeds Theodore (Tim) Solso, who will
continue serving as the Board’s Lead Independent Director. Barra has served as
GM CEO since Jan. 15, 2014.
“At a time of unprecedented
industry change, the Board concluded it is in the best interests of the company
to combine the roles of Chair and CEO in order to drive the most efficient
execution of our plan and vision for the future,” said Solso, adding that “With
GM consistently delivering on its targets and on track to generate significant
value for its shareholders, this is the right time for Mary to assume this
Solso indicated Barra has set
a clear vision for the organisation over the past two years, formed a strong
leadership team from inside and outside the company, delivered strong operating
results and led the introduction of breakthrough vehicles and technologies.
“The Board has improved the
overall governance of the company over the past two years and as Lead
Independent Director, I expect to continue to build on this solid foundation,”
Solso said. “The Board also plans to broaden its active engagement with shareholders
as we go forward,” he further stated.
Barra stated, “I am honoured
to serve as Chair of the Board of Directors. With the support of our Board, we
will continue to drive shareholder value by improving our core business and
leading in the transformation of personal mobility.”
Prior to being named CEO in
2014, Barra served as executive vice president, Global Product Development,
Purchasing & Supply Chain since August 2013, and as senior vice president,
Global Product Development since February 2011. In these roles, she was
responsible for the design, engineering, programme management and quality of GM
vehicles around the world.
Previously, Barra served as GM
vice president, Global Human Resources; vice president, Global Manufacturing
Engineering; plant manager, Detroit Hamtramck Assembly; executive director of
Competitive Operations Engineering; and in several engineering and staff
In 1990, Barra graduated with
an MBA from the Stanford Graduate School of Business after receiving a GM
fellowship in 1988.
Barra began her career with GM
in 1980 as a General Motors Institute (Kettering University) co-op student at
the Pontiac Motor Division. She graduated with a bachelor’s degree in
electrical engineering in 1985.
Source: General Motors
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