Correspondent, Detroit
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Dec 11, 2013

GM shakes up auto industry men’s club, naming first woman CEO

DETROIT (Reuters) – General Motors Co CEO Dan Akerson will step down next month and be replaced by GM “lifer” and global product chief Mary Barra, a sign that the development of new vehicles will be the paramount focus of the company that emerged from bankruptcy four years ago.

The appointment of Barra, 51, is at once groundbreaking – she will be the first woman to lead a global automaker – and yet also very traditional. Her father is a long-time GM employee and Barra has spent her entire 33-year career at the No. 1 U.S. automaker.

Dec 10, 2013

GM shakes up auto industry men’s club, naming Mary Barra next CEO

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research) Chief Executive Officer Dan Akerson will step down next month and be replaced by global product development chief Mary Barra, who will become the first woman to lead a global automaker.

The company said on Tuesday that Akerson, who is also the chairman, will leave on January 15, moving forward his planned departure by at least six months. He said he had planned to leave in mid- to late-2014, but accelerated his exit after learning about two months ago that his wife had an advanced stage of cancer.

Dec 10, 2013

GM names Barra first woman CEO, to replace retiring Akerson

DETROIT (Reuters) – General Motors Co said on Tuesday Chief Executive Officer Dan Akerson will step down next month and be replaced by global product development chief Mary Barra, who will become the first woman to lead a global automaker.

The day after the U.S. Treasury announced it had sold the last of its GM shares, the company said in a statement that Akerson, who is also the chairman, will leave on January 15, moving forward his planned departure by several months. His wife was recently diagnosed with an advanced stage of cancer.

Dec 6, 2013
Dec 6, 2013
Dec 6, 2013

Analysis: GM moves to boost profit in Asia, Europe long overdue

DETROIT (Reuters) – General Motors Co’s (GM.N: Quote, Profile, Research, Stock Buzz) decision to pull the plug on Chevrolet in Europe is one of several calculated moves the U.S. automaker appears to be making around the world that analysts and investors say are long overdue if the automaker wants to boost profits in line with its rivals.

GM said on Thursday that by the end of 2015 it will drop its mainstream Chevrolet brand in Europe, except for certain vehicles, like the Corvette sports car.

Dec 5, 2013
Dec 5, 2013
Dec 5, 2013

GM to drop Chevy brand in Europe to focus on Opel

FRANKFURT/DETROIT (Reuters) – General Motors (GM.N: Quote, Profile, Research, Stock Buzz) will drop the Chevrolet brand in Europe by the end of 2015 after it failed to build significant market share, and the company will focus instead on its Opel and Vauxhall marques in a drive to return to profit on the continent.

The world’s second-biggest carmaker behind Japan’s Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) said on Thursday the decision would result in one-time charges of up to $1 billion, but it should lead to production, marketing and distribution savings.

Dec 4, 2013

Hedge fund Hayman Capital takes stake in GM: source

By Ben Klayman and Svea Herbst-Bayliss

(Reuters) – Hedge fund Hayman Capital has taken a stake in General Motors Co and believes the U.S. automaker’s stock could rise more than 40 percent over the next 12-18 months after the U.S. Treasury sells its stake in the company, a source familiar with investment said on Wednesday.

Hayman Capital’s move into GM comes as the U.S. government is in the process of selling its remaining stake in the company and as other new potential investors eye the stock, said two people working at a different hedge fund but who were not permitted to speak to the media.

    • About Ben

      "Ben Klayman is based in Detroit and in April was named leader of the global automotive team for Reuters. Previously, Ben covered the business of sports as well as consumer and retail for three years and led the manufacturing/housing team for four years. He also covered the telecommunications sector for three years. He joined Reuters in Detroit in 1998 to cover autos. Prior to joining Reuters, he worked at a series of daily newspapers in Ohio and Maryland. Ben graduated from Washington University in St. Louis in 1989 with a bachelor's degree in English literature."
      Joined Reuters:
      1998
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