Mary Barra will succeed Theodore (Tim) Solso immediately, who will continue serving as the Board’s Lead Independent Director, Xinhua cited Monday’s statement published at GM’s official website as saying.
Barra has served as GM CEO since January 15, 2014.
“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,” Solso said.
“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.”
Barra has set a clear vision for the organisation over the past two years, delivering strong operating results and leading the introduction of breakthrough vehicles and technologies by forming a strong leadership team from inside and outside the company, according to Solso.
Prior to being named CEO in 2014, Barra served as executive vice president for Global Product Development, Purchasing and Supply Chain since August 2013, and as senior vice president for Global Product Development since February 2011.
She began her career with GM in 1980 as a General Motors Institute co-op student and graduated with a bachelor’s degree in electrical engineering in 1985.
General Motors Co. and its partners produce vehicles in 30 countries. GM, its subsidiaries and joint ventures sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands.
