2 Gov't Appointed GM Board Members To Leave In June
DETROIT (AP) -- Two members of the General Motors Co. board of directors are leaving the panel in June.
The company said in a regulatory filing that David Bonderman won't seek election at the company's annual meeting. Krebs plans to retire.
Both were appointed to the board by the U.S. government in July of 2009, shortly after GM left bankruptcy protection.
GM did not discuss replacements for the 14-member board in the filing Tuesday. The company's annual shareholders meeting normally happens each June in Detroit.
Bonderman, 71, is a co-founding partner of TPG, a private investment firm. Krebs, 72, is a retired chairman and CEO of Burlington Northern Santa Fe Corp., one of the largest U.S. freight railroad networks.
Also Tuesday, GM named Brian Sweeney as head of the Chevrolet brand in the U.S. He'll be responsible for sales, service and marketing of GM's biggest brand starting March 1. Don Johnson, GM's current vice president of Chevrolet sales and service, is retiring, the company said.
Sweeney had been vice president of Buick-GMC sales and service. He'll be replaced by Duncan Aldred, now managing director of GM's Vauxhall brand in Europe and CEO of Opel in Ireland.
Chevrolet's U.S. market share has fallen 1.3 percentage points in the past year to 11.8 percent in January, according to Autodata Corp.