Last Updated on March 8, 2023 by Mansoor Ali
Owner of General Motors
General Motors (GM) is a multinational corporation that designs, manufactures, markets, and distributes vehicles, vehicle parts, and financial services. With a history spanning more than a century, the company has had many owners and CEOs who have contributed to its growth and success. In this note, we will take a closer look at the owner of General Motors and its impact on the company.
William C. Durant (1908-1920):
William C. Durant was one of the co-founders of General Motors in 1908, along with Charles Stewart Mott and Frederic L. Smith. Durant had previously founded Buick Motor Company, which became one of the largest automobile manufacturers in the world. GM expanded quickly under Durant’s direction by acquiring many lesser automakers, including Cadillac, Oldsmobile, and Pontiac. By 1916, GM had become the largest automobile manufacturer in the world, with a 45% share of the US market. However, Durant’s aggressive expansion and debt financing eventually led to his ousting from the company in 1920.
Alfred P. Sloan (1923-1946):
Alfred P. Sloan became the CEO of General Motors in 1923 after serving as the company’s president for several years. He is widely regarded as one of the most influential owners of GM, as he transformed the company from a collection of independent brands into a highly centralized and efficient organization. Sloan introduced the concept of planned obsolescence, which meant that GM would release new models every year with updated designs and features, encouraging customers to upgrade to the latest model. This strategy helped GM maintain a competitive edge in the automobile industry and cemented its position as the largest automobile manufacturer in the world. Under Sloan’s leadership, GM also established the General Motors Institute (now known as Kettering University) to train engineers and other professionals for the automotive industry.
Harlow H. Curtice (1953-1958):
Harlow H. Curtice became the CEO of General Motors in 1953, at a time when the company was facing intense competition from foreign automakers. The use of television ads and product placements in motion pictures and television programs were just two of Curtice’s creative marketing techniques. He also oversaw the introduction of several new models, including the Corvette sports car and the Cadillac Eldorado. However, Curtice’s tenure was also marked by controversy, as he accuses of engaging in antitrust practices and favoring certain dealerships over others. Curtice retired from GM in 1958 amid declining sales and profits.
Roger B. Smith (1981-1990):
Roger B. Smith became the CEO of General Motors in 1981, at a time when the company was facing intense competition from Japanese automakers. Smith was renowned for his bold restructuring of the business. It involved shutting down many factories, dismissing thousands of employees, and outsourcing production to other nations. To take on Japanese automakers in the small car market, he supervised the development of the Saturn brand. However, the Saturn brand never gained the popularity or success that GM had hoped for, and Smith criticizes his management style and decision-making. Smith retired from GM in 1990 amid declining sales and profits.
Mary Barra (2014-present):
Mary Barra became the CEO of General Motors in 2014, becoming the first woman to lead a major global automaker. Barra had previously held several leadership positions at GM, including head of product development and head of global manufacturing. Under Barra’s leadership, GM has focused on developing electric and autonomous vehicles and expanding its presence in China and other international markets.
Mary Barra has been a vocal advocate for diversity and inclusion within General Motors and the broader automotive industry. In addition to speaking out against inequality and discrimination in the workplace, she has started efforts to increase the number of women and people of color in leadership roles at GM.
Barra has also been an advocate for environmental sustainability and corporate social responsibility. She has set ambitious goals for GM to reduce its carbon footprint and increase the production of electric and autonomous vehicles. In addition, she has led GM’s efforts to support communities affected by natural disasters and other crises, including the COVID-19 pandemic.
Barra has been recognized for her leadership and advocacy by numerous organizations, including Fortune magazine, which named her the most powerful woman in business in 2017 and 2018. She has also been named one of the world’s most influential people by Time magazine and one of the most powerful women by Forbes magazine.
Owner of General Motors- FAQ
Who runs General Motors Company?
81.50 percent of stockholders, 12.84percentage General Electric Co. executives, and 5.66% of investment managers hold General Motors Co. (NYSE: GM). The individual stakeholder of General Motors Co. is Senior citizen Health Benefits Fund Components, which holds 100.15 million shares, or 7.18% of the business. The market valuation of the General Motors Co. shares owned by Senior citizen Health Benefits Fund Uaw is $4.12B.
Owner of General Motors – Conclusion
In conclusion, Mary Barra becomes a steadfast supporter of corporate social responsibility, sustainability, diversity, and equality during her time as CEO of General Motors. Her leadership has helped to position GM as a leader in the global automotive industry, and her advocacy has helped to advance important social and environmental causes.
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