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General Motors names Mary Barra as new boss | General Motors names Mary Barra as new boss |
(35 minutes later) | |
US car giant General Motors (GM) has promoted product development chief Mary Barra to the post of chief executive. | US car giant General Motors (GM) has promoted product development chief Mary Barra to the post of chief executive. |
She replaces Daniel Akerson, and is the first woman to run the world's second biggest carmaker. | |
Mr Akerson, who is also currently chairman of the company, will leave both of his posts in mid-January. His wife has recently been diagnosed with advanced cancer. | |
Earlier this week the US government sold its remaining shares in GM. | Earlier this week the US government sold its remaining shares in GM. |
Overall, it lost around $10bn (£6bn) on its bailout of the carmaker in the aftermath of the financial crisis in 2008 and 2009. | Overall, it lost around $10bn (£6bn) on its bailout of the carmaker in the aftermath of the financial crisis in 2008 and 2009. |
The US Treasury spent $49.5bn bailing out GM, and took a 61% stake in the company. | The US Treasury spent $49.5bn bailing out GM, and took a 61% stake in the company. |
Ms Barra has been in charge of design and engineering, and before that was head of human resources at the company. | |
She joined GM as a student in 1980. |