General Motors CEO Mary Barra will add another job title to her resume as she was elected as the Chairman of the GM Board of Directors on Monday.
Barra, 54, will take over as chairman immediately, succeeding Theodore (Tim) Solso. She has served as CEO since Jan. 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 in a release. “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 stay with the board as the lead independent director.
According to Solso, Barra has set a clear vision for GM since she took over in 2014 and has formed a strong leadership team.
“I am honored to serve as Chair of the Board of Directors," Barra said in a release. "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.”
Before being named CEO, Barra served as vice president of global human resources, vice president of global manufacturing engineering, plant manager at the Detroit Hamtramck Assembly Plant and several other positions.
