Two GM outside directors, David Bonderman and Robert Kreb, to quit board this year

Article by Anita Panait, on February 10, 2014

Two of General Motors’ outside directors are set to leave the board this year. David Bonderman has informed the carmaker that he would not stand for re-election at the annual shareholders meeting set in June. Meanwhile, Robert Krebs will retire immediately, prior to the meeting, in line with company policy on retirement age.

He is 72. Both have been board members since July 2009, following the carmaker’s emergence from bankruptcy. GM underwent a bankruptcy reorganization and received a $49.5-billion US taxpayer bailout. It now led by Mary Barra. "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." GM’s board currently consists of 14 members, including Barra. Of which, 12 are outside board members, including Bonderman and Krebs as well as former Vice Chairman Steve Girsky, who will remain a senior advisor until this April. Bonderman is co-founding partner and managing general partner of TPG Capital. Krebs retired as chairman of Burlington Northern Santa Fe Corp. in 2002.

Topics: gm, united states

If you liked the article, share on:

Comments

Recommended

McLaren has already shown some interest in electrifying their models. And initially, we thought that they will just use hybrid systems to use across their current lineup. Nevertheless, we have...
by - August 19, 2017
Fifty years after its glorious victory at the 24 Hours of Le Mans, Ford launches the 2018 Ford GT ’67 Heritage Edition at the 2017 Monterey Car Week. The red...
by - August 18, 2017
Hyundai has recently unveiled an unnamed pre-production model of its new fuel cell SUV. We don’t know what to call this model just yet, but sources say that this model...
by - August 18, 2017
This weekend at the 2017 Pebble Beach Concours d’Elegance, the BMW Z4 Concept will make its first public appearance. The good news is that we will finally have a real...
by - August 18, 2017
While Honda’s new 2018 HR-V will be rolling out at the dealerships with just a few updates, the company is certainly not giving up its spot as the best-selling vehicle...
by - August 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries