General Motors Corp. Chairman and Chief Executive Officer Rick Wagoner has announced last June 5 that Erroll B. Davis, Jr. and Kathryn V. Marinello are to become new GM directors and that the current members of the board were also reelected. As a result, there would be 13 board members wherein 12 of whom are independent, outside directors.
Davis studied at Carnegie Mellon University where he earned a degree in Bachelor of Science in Electrical Engineering. A chancellor of the University System of Georgia, he was then a chairman and chief executive officer of Alliant Energy Corporation. At Xerox Corporation and Ford Motor Company, he has also held corporate finance posts. He is also of service to the boards of BP plc, PPG Industries, Inc. and Union Pacific Corporation. He also serves on the boards of trustees of the University of Chicago and of Carnegie Mellon University. Furthermore, he was elected to the board of directors of the U.S. Olympic Committee in 2004 and chairs the committee on audit.
On the other hand, Marinello is a Bachelor’s Degree holder in Liberal Arts from the State University of New York at Albany. She finished her MBA from Hofstra University. Marinello is the president and chief executive officer of Ceridian Corporation. Before, she was the president and chief executive officer GE Capital’s Consumer Financial Services business and then held the same posts in the GE Fleet Services. Her posts at the First Data Corporation, U.S. Bank Card Services, Chemical Bank, Citibank and Barclays prove her great experience in financial services, marketing and operations. A member of the Business Roundtable, she is of service to the boards of directors of the Greater Twin Cities United Way and the Minnesota Business Partnership.
Wagoner said that they were extremely glad to have Davis and Marinello in the Board of Directors of the Detroit auto maker. He was optimistic that the two added strength would bring valuable insights based on their considerable business experiences.
George Fisher, the presiding director and chairman of the board’s Directors and Corporate Governance Committee said that their company is looking forward to working with the two new directors on vital issues that hold back the company to reach consistent growth.
The two new directors will serve on the Public Policy and Investment Funds Committees. Director Armando M. Codina’s movement from the Investment Funds Committee to the Directors and Corporate Governance Committee will take effect immediately.
About General Motors Corporation
Also known as GM or GMC, General Motors Corporation is the 2nd (after Toyota) largest car company based on sales revenue as of 2007. Maker of quality cars and their parts, GMC has around 284,000 employees all over the world.
It was founded in 1908, in Flint, Michigan and has global headquarters located at the Renaissance Center in Detroit, Michigan, USA. In Zurich, Switzerland is their European headquarters. This American car maker produces its trucks and cars in 33 countries.
GM cars and trucks are sold under Buick, Cadillac, Chevrolet, Daewoo, GMC, Holden, Hummer, Opel, Pontiac, Saab, Saturn and Vauxhall brands.
GM Parts like GMC grille and accessories are known in the market under GM Performance Parts, GM Goodwrench and ACDelco brands through GM Service and Parts Operations that supplies GM dealerships and distributors all over the world. The United States is GM’s largest national market. This is followed by China, Canada, the United Kingdom, and Germany.
GM is the number 1 automaker when it comes to Strategic Vision’s Total Quality Index (TQI).