GM Taps Ex-AT&T CEO Whitacre To Be Chairman
Edward Whitacre, former chairman and CEO of AT&T, will become chairman of General Motors when the company emerges from bankruptcy, said interim Chairman Kent Kresa Tuesday.
Video: GM names former AT&T chairman/CEO Edward Whitacre as its new chairman.
Kresa will continue to serve as interim chairman until the launch of the new company .
Whitacre and Kresa, along with current board members Philip A. Laskawy, Kathryn V. Marinello, Erroll B. Davis, Jr., E. Neville Isdell and President and Chief Executive Officer Frederick A. Henderson, will serve as the nucleus of the new GM board.
However, six other members of the current GM board will most likely retire when GM's assets are sold to the new entity.
GM is currently searching for four other members to join its board. In addition, the Canadian government and the new UAW Voluntary Employee Benefit Association will each nominate one director, bringing the total number of new GM directors to 13.
While at AT&T , Whitacre, 67 years old, 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.
Whitacre also serves on the boards of ExxonMobil and the Burlington Northern Santa Fe.