According to a statement form the Number 1 US automaker, two of its outside directors will vacate their places on the board of directors later this year.
According to General Motors, David Bonderman, 71, announced he would not candidate for re-election at the annual meeting in June, while the other director, Robert Krebs, 72, will retire immediately, prior to the meeting, to comply with company policy on retirement age.
“I’m proud to have been part of the company’s resurgence,” Bonderman said in a statement by GM. “I’m sure that Mary Barra and her team will keep GM moving forward.”
Dave Roman, a GM spokesman did not give any details on whether they would be replaced – both had been on the board since July 2009, following GM’s exit from bankruptcy. Krebs was before the retired chairman of Burlington Northern Santa Fe Corp, where he also served as CEO and chairman for 1999 and 2000. The other board member, Bonderman is a co-founding partner and managing general partner of private equity firm TPG Capital.
by Aurel Niculescu
) - Wednesday, February 5th, 2014 - filed under General Motors
. Image credit: .
Discuss: GM board to lose two directors in 2014