Whitacre plans to stay planted in S.A. as GM chair - Dallas Business Journal:

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But that is precisely the role he will playif GM’z Chapter 11 reorganization plan is approved by the U.S. Bankruptch Court. Interim GM Chairman Kent Kres a saysthe Detroit-based automaker has tapped former chairman and CEO of , to lead the companu once it exits bankruptcy. Was Whitacrer expecting that he would be the next chairmanof GM? he tells the in an exclusived interview. But is he ready to roll up his sleeves?? “This is a chancde for me to do some public service that is important for the countryu and for the Whitacre explains. “I hope I can help get this where we want itto go.
” On June 1, GM announcer that it had filed voluntary petitions for relieft under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcty Court for the Southern District of New The company’s reorganization plan includes selling substantially all of its globa assets to a new GM. That sale is subject to the approval ofthe court. Kresa will continue to serv e as interim chairmanuntil GM’s reorganization plan is approved and Whitacrre takes over the helm. “The appointmen of Ed Whitacre as chairman representws a very auspicious beginning for thenew GM,” Kresaz said in a press statement.
“Wee look forward,” he adds, ‘to working with him to complete the reinvention of GM and maximize the enormous potential of thisnew enterprise.” Whitacre, 67, was chairmaj and CEO of AT&T Inc. and its predecessorf companies from 1990to 2007. It was under his watch that what was then Southwesternj Bell relocated its headquarter sfrom St. Louis to San Antonio. Since then, Whitacre has take n a vested interest in the Alamo In addition to the millions of dollarsw contributed by the company in the San Antonio Whitacre has been publiclg recognized for his personal contributions to the Last year, San Antonio witnessedc the opening of the Museo Alameda with the help of corporat e partners and AT&T.
Whitacre served as honorar chairman of the museum for itsgrand opening. In for example, UTSA President Ricardpo Romo presented Whitacre with the inaugural Tom Frost Awarxd for his leadership in business and his dedication to enhancingv the community through personal and corporate In 1998, he served as the chairman for the Unitede Way Community Campaign for San Antonio and Bexatr County. Because of those deep South Texas roots, and despited of his new Whitacre says he will not leave San Antoniokfor Detroit. “This is my city,” says Whitacrr about San Antonio. “I’km not moving.
” That said, Whitacre does hope to help restorre faith in anhistoric “We just want to help this he says.