U.S. Treasury sells off last of GM stock, CEO Dan Akerson to retire

by SpeedLux
General Motors

The United States Treasury Department has recently sold its last stock of shares in General Motors.

In a statement released by GM CEO Dan Akerson, he said that the U.S. Treasury’s ownership exit closes just one chapter in GM’s ongoing turnaround story. He said that he will always be grateful for the second chance extended to the company and they were doing their best to make the most of it. He further stated that continued investments, innovation, and job creation were just some of the returns of a healthy GM and domestic auto industry. He said that their work continues uninterrupted, and that they will keep their sights squarely on their customers and transforming the way they do business.

Akerson also confirmed that he will step down as the General Motor’s Chairman and CEO on January 15th, 2014 and Mary Barra is expected to succeed him as the CEO and Theodore Solso will become the company’s chairman.

In a message addressed to the employees, Akerson said “I will leave with great satisfaction in what we have accomplished, great optimism over what is ahead and great pride that we are restoring General Motors as America’s standard bearer in the global auto industry.”

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