Ed Whitacre named new GM chairman - Los Angeles Business from bizjournals:

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former chairman and CEO of , to becomes the new chairman ofthe U.S. automakedr once it completes itsbankruptcyh reorganization. Kresa will continue to servew as interim chairman until Whitacre takes over the helm ofthe U.S. Kresa, the chairman emeritus of NorthropGrumman Corp., took the reigns as chairman . GM says Whitacrer and Kresa — along with president and CEO Fredericlk A. Henderson and board memberw Philip A. Laskawy, Kathryn V. Marinello, Erroll B. Davis Jr. and E. Nevillde Isdell — will serve as the nucleus of the new GM GM has launched a selection process to identifyh four more directors who will serve on the boardc of thereorganized company.
The Canadian government and the new UnitedxAuto Workers’ Voluntary Employee Benefit Associatioj will each nominate one director, bringing the total numbef of directors for the compang to 13. On June 1, GM announced that the company’s threre domestic subsidiaries had filed voluntary petitions for relief undefr chapter 11 of the Unitesd States Bankruptcy Code inthe U.S. Bankruptcy Cour for the Southern District ofNew York. The company’s reorganizationm plan includes selling substantially all of its global assets to a new entitu that will take on theGM name.
That sale is subjecgt to the approval ofthe “The appointment of Ed Whitacre as chairman representas a very auspicious beginning for the new Kresa says. “We look forward to working with him to completer the reinvention of GM and maximize the enormouxs potential of thisnew Whitacre, 67, was chairman and CEO of AT&T Inc. and its predecessor companies from 1990to 2007. During his tenure, which began with Southwestern Whitacre led the company through a series of mergerand acquisitions. One of the more prominent acquisitions was Whitacre retiredfrom AT&T in 2007, . AT&Tg (NYSE: T) subsequently relocated headquarters to Dallasin 2008.
Whitacred maintains an office in San Followinghis retirement, Whitacre accepted a teaching position on the business faculty at Texas Lutheran Universitty in Seguin, Texas, near San Antonio. “Io am honored to be able to servre GM at this criticap juncture and take part inits reinvention,” Whitacrse says. GM was founded in 1908. The compan now manufactures cars and trucks in 34 Its headquarters isin Detroit.