VIDEO: Ed. Whitacre Jr, New GM Chairman

VIDEO: Ed. Whitacre Jr, New GM Chairman
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G.M., which filed for Chapter 11 bankruptcy protection on June 1, said Mr. Whitacre would be joined on the board by Kent Kresa, its current interim chairman, and G.M.’s chief executive, Fritz Henderson.

General Motors named Edward E. Whitacre Jr., the former chief executive of AT&T, on Tuesday as the chairman of a recast board to oversee the “New G.M.” that will emerge from bankruptcy.

Four other G.M. directors will keep their seats, but six — including the long-time lead director, George Fisher — will retire before G.M. is reorganized in bankruptcy court.

The overhaul of the G.M. board was a condition set by the Treasury Department for continued financial assistance to the insolvent automaker.

VIDEO: Ed. Whitacre Jr, New GM Chairman