General Motors announced Tuesday that Mary Barra will succeed Dan Akerson as CEO starting January 15. Barra has worked with GM for 33 years, and has been serving as executive vice president. Barra will also become the first female head of a major automaker in the United States, and may bring a fresh pair of eyes to the company’s current situation as the U.S. Treasury officially ends its bailout of the auto industry.
Barra’s experience in product development will also be a valuable asset to the company. President of Kelly Blue Book Jared Rowe pointed out that “the bulk of the buying decisions are actually made by women, when it comes to purchasing vehicles,” so a female leader may be just what GM needs.
“GM is in a bit of a golden age in terms of their product overall,” Rowe added. “I think it’s very good she’s an insider because she’s been part of the evolution of GM. She’s been part of the transformation and she can continue that, which I think is phenomenal.”
GM’s overall situation has been heading in the right direction too, as its shares are up more than 40% this year. The company has earned around $20 billion since 2010, and turned a profit signaling its recovery from bankruptcy.
