GM names Mary Barra as new CEO: First Woman to Run Major Automaker

Want to go for a drive? Let's take my car

Want to go for a drive? Let’s take my car

Aaron Smith reports:  General Motors on Tuesday promoted insider Mary Barra to serve as the new chief executive officer, the first female head of a major U.S. automaker.

Aaron Smith reports: Barra, an executive vice president and 33-year GM veteran, will succeed current CEO Dan Akerson on January 15, the company said.

Akerson, 65, is retiring several months earlier than planned because his wife has an advanced stage of cancer, the automaker said.

The announcement comes at an important time for General Motors — one day after the U.S. Treasury Department said it had sold its final financial stake in the company, closing the book on its 2009 taxpayer bailout of the auto industry. Read the rest of this entry »