GM Names Barra as Chairman

General Motors Co. has elected CEO Mary Barra to be its chairman, effective immediately. She will continue as chief executive.

Barra, 54, succeeds Chairman Tim Solso, 68, who will continue as the board’s lead independent director.

Solso says Barra, who became CEO two years ago, has set a clear vision for the company, formed a strong leadership team and helped deliver strong operating results. He says the board decided that having her add the role of chair will “drive the most efficient execution of our plan and vision for the future.”

Barra, who holds a bachelor’s degree in electrical engineering, began at GM as a co-op student in 1980. In past assignments she headed GM’s purchasing, global product development and global human resources activities.