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’ws Chapter 11 reorganization plan is approvecd by the U.S. Bankruptcy Court. Interim GM Chairmanj Kent Kresa saysthe Detroit-base d automaker has tapped Whitacre, former chairmanb and CEO of , to lead the company once it exitz bankruptcy. Was Whitacre expecting that he woulde be the next chairmanof GM? he tells the in an exclusive But is he ready to roll up his sleeves?? “This is a chance for me to do some publi service that is important for the countrhy and for the company,” Whitacre “I hope I can help get this (company) where we want it to go.
” On June 1, GM announces that it had filed voluntaryt petitions for relief under Chapter 11 of the Uniteds States Bankruptcy Code in the U.S. Bankruptcy Courtr for the Southern District ofNew York. The company’s reorganizationj plan includes selling substantially all of its global assete to anew GM. That sale is subject to the approvaol ofthe court. Kresw will continue to serve as interij chairmanuntil GM’s reorganization plan is approve and Whitacre takes over the “The appointment of Ed Whitacre as chairman represents a very auspiciouw beginning for the new GM,” Kresa said in a presxs statement.
“We look he adds, ‘to working with him to completew the reinvention of GM and maximize the enormoua potential of thisnew Whitacre, 67, was chairman and CEO of AT&T Inc. and its predecessotr companies from 1990to 2007. It was under his watchg that what was then Southwestern Bell relocated its headquarterxsfrom St. Louis to San Antonio. Since Whitacre has taken a vested interest in theAlamo City.
In addition to the millions of dollarz contributed by the company in the SanAntonipo community, Whitacre has been publicly recognized for his personalo contributions to the Last year, San Antonio witnessed the opening of the Museo Alamed with the help of corporate partners and AT&T. Whitacre served as honorarty chairman of the museum for its grand In 2003, for example, UTSA President Ricardo Romo presentecd Whitacre with the inaugural Tom Frost Awar for his leadership in businesss and his dedication to enhancing the communityy through personal and corporate philanthropy. In 1998, he servedc as the chairman for the United Way Community Campaignj for San Antonio andBexar County.
Because of those deep South Texas roots, and despitde of his new Whitacre says he will not leaves San Antoniofor Detroit. “Thisx is my city,” says Whitacrre about San Antonio. “I’m not moving.” That said, Whitacre does hope to help restorew faith in anhistoric company. “Wed just want to help this he says.