DETROIT — The General Motors Board of Directors unanimously elected Mary Barra as its next chairman, effective immediately. She succeeds Theodore Solso, who will serve as the Board’s Lead Independent Director. “At a time of unprecedented industry change, the board concluded it is in the best interests of the company to combine the roles of ... Read More »
General Motors Co Chief Executive Officer Mary Barra, who last year became the first woman to lead a major U.S. automaker, received $16.2 million in 2014 compensation, up 78 percent from her predecessor’s total the previous year, reported Reuters. Most of Barra’s compensation is tied to stock awards that she cannot cash in yet. She ... Read More »
Volkswagen AG Chairman Ferdinand Piech may have lost the battle to oust Chief Executive Martin Winterkorn, but the war isn’t over, reported The WSJ. Key members of VW’s supervisory board Friday proposed extending Mr. Winterkorn’s contract, one week after Mr. Piech expressed a lack of confidence in the CEO and threw his future into doubt. ... Read More »
Nissan Motor Co Chief Executive Carlos Ghosn said on Thursday the automaker needs more capacity in North America to fuel its growth, reported Reuters. Demand for Nissan Rogue sport utility vehicles can be supplied in the short term from plants in Korea and Japan, but longer term “we obviously need more capacity in North America,” ... Read More »
Ford Motor Co Chief Executive Officer Mark Fields made $18.6 million in salary and other compensation last year, below the $23.2 million that predecessor Alan Mulally received in 2013, the company said on Friday, reported Reuters. Last year’s compensation for Fields, 54, was for half the year as CEO and half as chief operating officer. ... Read More »
Honda Motor Co.’s chief executive officer will step aside later this year as Japan’s third-largest carmaker reels from one of the biggest setbacks over quality in its history, reported Bloomberg. In a surprise announcement on Monday in Tokyo, 61-year-old Takanobu Ito said he’ll hand over the reins to Managing Officer Takahiro Hachigo, 55, after the ... Read More »
NEW YORK — Ally Financial Inc. announced today that Jeffrey Brown was named CEO. The former president and CEO of Ally’s dealer-financial services business succeeds Michael A. Carpenter, who is retiring from his post and from the company’s board after five years. Brown also joins the finance source’s board of directors. He will work closely ... Read More »
LOS ANGELES— Håkan Samuelsson has an admirable vision for Volvo Car Corp. By 2020, the company’s chief executive says no one will be seriously killed or injured in a new Volvo, reported The WSJ. In order to make it to 2020, however, Mr. Samuelsson needs to turn around a U.S. unit that is losing market ... Read More »
Succession is not an imminent topic at Daimler or Volkswagen, the chief executives of both carmakers said on Thursday, adding that any potential candidates would most likely come from within their respective companies, reported Reuters. Daimler chief Dieter Zetsche and Martin Winterkorn, who heads up Volkswagen, were both asked during a panel discussion in Munich ... Read More »
Takata Corp.’s chairman and chief executive officer issued an apology in response to an auto-safety crisis created by flaws in its air bags, reported Bloomberg. “We deeply regret that the recent recalls of vehicles equipped with our airbags have likely raised significant concerns and troubles to our product users, our customers, shareholders and other stakeholders,” ... Read More »
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