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GM CEO May Retire Next Year

Four insiders are vying to replace him


General Motors NYSE:GMSources tell Reuters that General Motors (GM) CEO Dan Akerson could depart the car company next year. GM has so far not initiated a search for replacement for Akerson, who is 65. Nor has he reportedly yet told GM’s board of any plans to step down as CEO.

GM altered Akerson’s compensation plan earlier this year, “in acknowledgement of the possibility of his retirement before the completion of the three-year vesting period.” That sparked buzz that he would leave the nation’s largest carmaker before 2015. In an interview in January, Akerson declined to say exactly when he would leave GM, but said he would still be running the auto giant in January 2014.

GM Stock Is Driving Even Higher
GM Stock Is Driving Even Higher

In the running to replace Akerson are four internal candidates, including Mark Reuss, head of GM’s North American operations, who is considered to be in the lead to become GM’s next CEO.

Akerson took the reins at GM in November 2010 on the heels of the massive U.S. government bailout that saved the company from collapse.

Shares of GM sank slightly in Thursday morning trading.

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Article printed from InvestorPlace Media,

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