GM names Mary Barra as CEO
General Motors on Tuesday promoted insider Mary Barra to serve as the new chief executive officer, the first female head of a major U.S. automaker.
Barra, executive vice president, will succeed current CEO Dan Akerson on January 15, the company said.
Akerson, 65, is retiring several months earlier than planned because his wife has an advanced stage of cancer, the automaker said.
The announcement comes a day after the U.S. Treasury Department said it had sold its final financial stake in General Motors, closing the book on its 2009 bailout of the auto industry.
GM ( GM, Fortune 500) shares are up more than 40% so far this year. The company has earned nearly $20 billion in net income since 2010, the year it returned to profitability after emerging from bankruptcy. 
First Published: December 10, 2013: 9:17 AM ET
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