GM announced today that former chairman and CEO of AT&T Edward E. Whitacre, Jr., will become the new chairman of the ‘New Gm’ when the company is launched later this summer. In the mean time, Kent Kresa will continue to serve as interim chairman.

“I am honored to be able to serve GM at this critical juncture and take part in its reinvention,” said Whitacre.

Whitacre and Kresa, along with current board members Philip A. Laskawy, Kathryn V. Marinello, Erroll B. Davis, Jr., E. Neville Isdell and President and Chief Executive Officer Frederick A. Henderson, will serve as the New GM board. Six other members of the current board will most likely retire.

“The appointment of Ed Whitacre as chairman represents a very auspicious beginning for the New GM,” said Kresa. “We look forward to working with him to complete the reinvention of GM and maximize the enormous potential of this new enterprise.”

- By: Omar Rana