GM Names First Female CEO

General Motors Co.'s board has elected Mary Barra to take over as CEO in January. She will succeed Dan Akerson, 65, who is leaving the company.

Barra currently heads GM's global product development, purchasing and supply chain operations. Her promotion marks the first time a woman has headed a major car company anywhere.

Akerson signaled the board's interest in Barra in September when he declared that a female CEO at GM, Ford or Chrysler was "inevitable."

GM's board also announced several senior management promotions, also taking effect in January:

• Succeeding Akerson as chairman will be Tim Solso, a board member and former chairman and CEO of diesel enginemaker Cummins Inc.
• Steve Girsky, currently vice chairman, will become a senior advisor before leaving the company in April.
• Dan Ammann, the company's chief financial officer, will become president.
• Mark Reuss, who currently heads North American operations, will move into Barra's current position