General Motors announced today that chairman and CEO Dan Akerson will retire as chairman on January 15, 2014. Akerson will be succeeded by Mary Barra, executive vice president of Global Product Development. Barra was selected by GM’s Board of Directors, and becomes GM’s first female CEO. Theodore Solso will become the new chairman.
Akerson helmed GM through a difficult period, and ensured that the automotive giant came out with improved vehicle quality and its bankruptcy woes behind it. Akerson, 65, moved his succession plan forward by several months due to a family illness.
Barra, 51, has been with GM for thirty-three years, and has stood out as a leader during GM’s recent turnaround and assisted in streamlining vehicle development processes to make GM a more dynamic company. Customer satisfaction levels are up, and the latest GM products are gaining respect as well.
“With an amazing portfolio of cars and trucks and the strongest financial performance in our recent history, this is an exciting time at today’s GM,” Barra said. “I’m honored to lead the best team in the business and to keep our momentum at full speed.”
In a message to employees, Akerson said, “I will leave with great satisfaction in what we have accomplished, great optimism over what is ahead and great pride that we are restoring General Motors as America’s standard bearer in the global auto industry.”
Farther down in the ranks, Barra’s current position will be filled by Mark Reuss, executive vice president, North America. Senior Vice President of Global Chevrolet and U.S. Sales and Marketing Alan Batey will succeed Reuss.
