Boston, MA 12/12/2013 (wallstreetpr) -General Motors Company (NYSE:GM) will from next January have a new chief executive officer and that person is Mary Barra. She will be replacing the current CEO Daniel Akerson whose retirement was rumored in the past months but has since been confirmed.
The company that she will be steering has just bought itself out of the government control. The U.S. government bailed out General Motors Company (NYSE:GM) with $49.5 billion to save it from collapse at the height of the financial crisis. This bailout arrangement allowed government control of the company’s operations.
Akerson who took over the company in 2010 tried to return it to its former glory days. The automaker is investing in new vehicles, adjusting regional operations and cutting on operating expenses. These efforts have returned profits and the company hopes to do even better as it expands its market.
Now that Barra is coming into the big picture, a bit of her could help investors understand what to expect from GM in the upcoming years.
First and foremost, Barra’s appointment to the CEO position was historic in more ways than one. Her selection to succeed Akerson was unanimous, a rare occurrence in today’s management selection. Also, Barra becomes the first female head of General Motors Company (NYSE:GM) in the company’s history. Moreover, she also joins the elite Fortune 500 managers as the only female top manager of a giant auto company.
This fete is good for General Motors Company (NYSE:GM) which needs good press onwards, especially as it seeks to dismantle the association with the government which is believed to have cost it in terms of business in the U.S. market.
Barra is no stranger to General Motors Company (NYSE:GM). She has been with the company for the past 33 years and this puts her perfect position to know exactly the company’s commitment to the market and investors. She will not be spending her first few months in office learning the company; instead she is expected to continue the works that have already started to return the company to its glory days.