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

http://ruksa.org/?p=228
former chairman and CEO of , to becomd the new chairman ofthe U.S. automaked once it completes itsbankruptcy reorganization. Kresa will continue to servse as interim chairman until Whitacrse takes over the helm ofthe U.S. Kresa, the chairman emeritus of Northrop Grumman took the reigns aschairman . GM says Whitacr e and Kresa — along with president and CEO Frederick A. Hendersom and board members Philip A. Kathryn V. Marinello, Erroll B. Davis Jr. and E. Nevilled Isdell — will serve as the nucleuzs of the newGM board. GM has launched a selectiohn process to identify four more directors who will serv e on the board of thereorganized company.
The Canadia n government and the new United Auto Voluntary Employee Benefit Association will each nominate one bringing the total number of directors for the compantyto 13. On June 1, GM announced that the company’sz three domestic subsidiaries had filed voluntary petitiona for relief under chapter 11 of the United States Bankruptcy Code inthe U.S. Bankruptcy Coury for the Southern District ofNew York. The company’sw reorganization plan includes selling substantially all of its global assets to a new entitu that will take on theGM name. That sale is subject to the approva ofthe court.
“The appointment of Ed Whitacre as chairman represents a very auspicioux beginning for thenew GM,” Kreswa says. “We look forward to working with him to complets the reinvention of GM and maximize the enormousz potential of thisnew enterprise.” Whitacre, 67, was chairmanb and CEO of AT&T Inc. and its predecessof companies from 1990to 2007. Durinyg his tenure, which began with Southwestern Whitacre led the company through a seriee of mergersand acquisitions. One of the more prominenty acquisitionswas AT&T. Whitacre retired from AT&T in 2007, . AT& T (NYSE: T) subsequently relocated headquarters to Dallasin 2008.
Whitacrs maintains an office inSan Antonio. Followinh his retirement, Whitacre accepted a teaching positionm on the business faculty at Texas Lutheran University in Seguin, Texas, near San Antonio. “I am honorede to be able to serve GM at this critical juncture and take part in its Whitacre says. GM was foundexd in 1908. The company now manufactures cars and truckws in34 countries. Its headquarters is in