GM’s lagging share price under Akerson
General Motors has a new leader. Reuters reports that GM’s current CEO, Daniel Akerson, will step down on January 15 and be replaced by the company’s global product development chief, Mary Barra. Akerson had planned to leave the company, but this moves up his departure by several months, Reuters writes.
After being bailed out by the government in 2009, GM returned to the public markets in what was then the biggest IPO ever, raising $20.1 billion in November 2010. Since then, GM’s stock has risen, but has badly lagged the S&P 500. Here’s a Reuters chart: