VITAMIN W Staff
There's a new chief in charge in the Motor City. Mary Barra has been named General Motors first female CEO and she comes with an impressive 33-year career at the company.
Barra is also the first female chief executive of a major automaker. That's shocking because according to USA Today, women control 80 percent of all car-buying decisions directly or indirectly.
She has held a series of manufacturing, engineering and senior staff positions. Barra joins only handful of women, including Ursula Burns of Xerox, Marissa Mayer at Yahoo and Hewlett-Packard’s Meg Whitman, as CEOs of major American companies. Barra has also been appointed to the GM board of directors. More women on boards equals success. A new study finds that the more women there are in the boardroom, the less a company pays when it merging with another company.
Researchers at the University of British Columbia’s Sauder School of Business, which will be published in the Journal of Corporate Finance, reveals that for each female director on a board, the cost of an acquisition goes down by 15.4 percent.
You never know what will happen in the auto industry these days.
“With an amazing portfolio of cars and trucks and the strongest financial performance in our recent history, this is an exciting time at today’s GM,” Barra said in a statement. “I’m honored to lead the best team in the business and to keep our momentum at full speed.”
Barra becomes the first female chief executive of a major automaker.
Last week Twitter, this week General Motors. What's next on the road to more woman in power?
Photo: Fortune Live Media via Creative Commons/Flickr (CC BY-NC-ND 2.0)