Mary Barra To Become Chairman Of GM’s Board

Mary Barra, current CEO of General Motors has just announced as the chairman of the board. This move is the ultimate vote of confidence by the organization in Barra, who has led GM though challenging times, including the ignition switch recall crisis.

In a statement by GM, outgoing chairman of the board Tim Solso said “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. 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 role.” Solso will remain as an independent director, and will run board meetings Barra cannot attend.

Barra also released a statement on her new appointment saying, “I am honored 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.”