Hot on the heels of the U.S. Treasury divesting all of its remaining shares in General Motors just yesterday, the automaker has announced that its current Chairman and CEO Dan Akerson has elected to retire from both positions. The move wasn’t entirely planned to take place this soon, as Akerson, 65, cut short his tenure as CEO by “several months” due to his wife being diagnosed with an advanced stage of cancer.
Beginning January 2014, his replacement, as voted by the General Motors Board of Directors, will be current executive vice president, Global Product Development, Purchasing and Supply Chain Mary Barra. Barra, 51, will also join the GM Board of Director, and her appointment will go down in history as the first female CEO of any automaker, ever. Succeeding Barra’s position will be none other than Mark Ress, who currently is the President of GM North America. In turn, Alan Batey, current head of Global Chevrolet, will replace Reuss. Batey’s replacement was not mentioned at the time of publication.
At the same time, 41-year-old executive vice president and Chief Financial Officer Dan Ammann has been named President of General Motors. He will assume responsibility for managing the company’s regional operations around the world, with responsibility for global Chevrolet and Cadillac brands as well as GM Financial. His replacement
will be named later is Chuck Stevens. Ammann is still responsible for releasing the company’s fourth quarter and full-year 2013 results, which will take place in February 2014.
What’s more, 66-year-old Theodore (Tim) Solso has been named the Chairman of General Motors. The former chairman and CEO of Cummins, Inc. has been a member of the GM Board since June 2012. He is widely credited with turning around Cummins.
The automaker also announced that Steve Girsky, 51, vice chairman, Corporate Strategy, Business Development and Global Product Planning, will move to a senior advisory role until leaving the company in April 2014.