DETROIT — Edward Whitacre, Jr., former chairman and CEO of AT&T Inc., will become chairman of the New GM when the company is launched later this summer, GM’s interim Chairman Kent Kresa announced last week. Kresa will continue to serve as interim chairman until the launch.
Whitacre and Kresa, along with current board members Philip Laskawy, Kathryn Marinello, Erroll Davis, Jr., E. Neville Isdell and President and Chief Executive Officer Frederick "Fritz" Henderson, will serve as the nucleus of the New GM board, providing management oversight and a continuing commitment to transparency and world-class standards of corporate governance.
The six other members of the current board will most likely retire no later than the approval of the sale of GM assets to the new entity. A selection process is currently underway for four more directors to serve on the board of the New GM. In addition, the Canadian government and the new UAW Voluntary Employee Benefit Association (VEBA) will each nominate one director, bringing the total number of New GM directors to 13.
Whitacre, 67, was chairman and CEO of AT&T Inc. and its predecessor companies from 1990 to 2007. During his tenure, which began with Southwestern Bell, Whitacre led the company through a series of mergers and acquisitions — including that of AT&T in 2005 — to create the nation’s largest provider of local, long distance and wireless services. He serves on the boards of ExxonMobil Corp. and the Burlington Northern Santa Fe Corp. and holds a degree in industrial engineering from Texas Technological University.
"The appointment of Ed Whitacre as chairman represents a very auspicious beginning for the New GM," said Kresa. "We look forward to working with him to complete the reinvention of GM and maximize the enormous potential of this new enterprise."
"I am honored to be able to serve GM at this critical juncture and take part in its reinvention," said Whitacre.
In other personnel news at GM, it was announced on Friday that Bo Andersson, group vice president, Global Purchasing and Supply Chain, has decided to leave GM to pursue other career opportunities, effective immediately.
"Bo has made tremendous contributions to the development of our global purchasing and supply chain strategy as we’ve globalized our product line portfolios and manufacturing footprint," Henderson said.
Andersson, 53, joined GM in 1987 as a manager at SAAB AB located in Sweden. Previous appointments include executive director, Purchasing of Electrical commodities and later of Chemical commodities. He also held the position of GM Europe vice president of Purchasing. Bo was appointed vice president, Global Purchasing and Supply Chain in December 2001 and was appointed a group vice president in 2007.
The automaker said Andersson’s successor will be named in the near future.
