GM CEO Barra Adds Title Of Board Chair

General Motors CEO Mary Barra will also serve as the auto giant's chairman following a vote by GM's board of directors Monday.

Barra, who took over as CEO nearly two years ago, succeeds Tim Solso as chairman.

Solso, who will continue as the board's lead independent director, said that combining the roles of chairman and CEO would "drive the most efficient execution of our plan and vision for the future."

“With GM consistently delivering on its targets and on track to generate significant value for its shareholders, this is the right time for Mary to assume this role," Solso said.

Barra, the first woman to lead a major automaker, steered GM through the controversy over faulty ignition switches and delivered innovative vehicles and technologies during a tumultuous time for the auto industry.

"I am honored to serve as chair of the board of directors," Barra said. "With the support of our board, we will continue to drive shareholder value by improving our core business and leading in the transformation of personal mobility."