GM Board Shakeup: New Directors, Leadership Appointments
Ticker: GM · Form: 8-K · Filed: 2024-09-05T00:00:00.000Z
Sentiment: neutral
Topics: leadership-change, board-of-directors, executive-appointments
Related Tickers: GM
TL;DR
GM board adds new blood, Barra & Jacobson stay put in leadership roles.
AI Summary
General Motors Co. announced on September 3, 2024, the departure of director Jeffrey M. Bell and the election of two new directors, David E. Johnson and David M. Dase. The company also appointed Mary Barra as Chief Executive Officer and President, and Paul Jacobson as Executive Vice President and Chief Financial Officer, effective September 3, 2024. These changes are part of the company's ongoing governance and leadership adjustments.
Why It Matters
Changes in board composition and executive leadership can signal shifts in strategic direction or governance practices, impacting investor confidence and company performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine board and executive changes, with no immediate financial distress or significant operational shifts indicated.
Key Players & Entities
- General Motors Co. (company) — Registrant
- Jeffrey M. Bell (person) — Departing Director
- David E. Johnson (person) — Newly Elected Director
- David M. Dase (person) — Newly Elected Director
- Mary Barra (person) — Chief Executive Officer and President
- Paul Jacobson (person) — Executive Vice President and Chief Financial Officer
- September 3, 2024 (date) — Effective date of changes
FAQ
Who has departed from the General Motors board of directors?
Jeffrey M. Bell has departed from the General Motors board of directors.
Who were elected as new directors to the General Motors board?
David E. Johnson and David M. Dase were elected as new directors.
What are the effective dates for the reported leadership changes?
The leadership changes are effective as of September 3, 2024.
What are the roles of Mary Barra and Paul Jacobson as per this filing?
Mary Barra is Chief Executive Officer and President, and Paul Jacobson is Executive Vice President and Chief Financial Officer.
What is the principal executive office address for General Motors?
The address of the principal executive offices is 300 Renaissance Center, Detroit, Michigan 48265-3000.
From the Filing
0001193125-24-213712.txt : 20240905 0001193125-24-213712.hdr.sgml : 20240905 20240905080859 ACCESSION NUMBER: 0001193125-24-213712 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240903 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240905 DATE AS OF CHANGE: 20240905 FILER: COMPANY DATA: COMPANY CONFORMED NAME: General Motors Co CENTRAL INDEX KEY: 0001467858 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLES & PASSENGER CAR BODIES [3711] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 270756180 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34960 FILM NUMBER: 241279997 BUSINESS ADDRESS: STREET 1: 300 RENAISSANCE CENTER CITY: DETROIT STATE: MI ZIP: 48265-3000 BUSINESS PHONE: 313.667.1500 MAIL ADDRESS: STREET 1: 300 RENAISSANCE CENTER CITY: DETROIT STATE: MI ZIP: 48265-3000 8-K 1 d844771d8k.htm 8-K 8-K General Motors Co false 0001467858 0001467858 2024-09-03 2024-09-03     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 3, 2024     GENERAL MOTORS COMPANY (Exact name of registrant as specified in its charter)       Delaware   001-34960   27-0756180 (State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)   300 Renaissance Center , Detroit , Michigan   48265 -3000 (Address of principal executive offices)   (Zip Code) (313) 667-1500 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, $0.01 par value   GM   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (d) On September 3, 2024, the Board of Directors (the “Board”) of General Motors Company (“GM”) elected Alfred F. Kelly, Jr. as a member of the Board. The Board has determined that Mr. Kelly is an independent director under New York Stock Exchange listing standards and GM’s independence guidelines, as set forth in its Corporate Governance Guidelines. Mr.