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

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But that is precisely the role he will playif GM’sa Chapter 11 reorganization plan is approved by the U.S. Bankruptcy Interim GM Chairman Kent Kresa saysthe Detroit-basedf automaker has tapped Whitacre, former chairman and CEO of , to lead the companyg once it exits bankruptcy. Was Whitacre expectingv that he would be the next chairmanjof GM? “No,” he tells the in an exclusiv e interview. But is he ready to roll up hissleeves “This is a chance for me to do some public service that is important for the country and for the Whitacre explains.
“I hope I can help get this (company) wherr we want it to On June 1, GM announced that it had filed voluntarhy petitions for relief undetr Chapter 11 of the United States Bankruptcy Code inthe U.S. Bankruptcyg Court for the Southern District ofNew York. The company’s reorganizatiomn plan includes selling substantially all of its globao assets to anew GM. That sale is subjecty to the approval of the Kresa will continue to serve as interimj chairmanuntil GM’s reorganizatioj plan is approved and Whitacre take s over the helm. “The appointment of Ed Whitacre as chairmam represents a very auspicious beginning for thenew GM,” Kresaw said in a press statement.
“We look he adds, ‘to working with him to complete the reinventiobn of GM and maximize the enormous potential of thisnew Whitacre, 67, was chairman and CEO of AT&T Inc. and its predecessor companies from 1990to 2007. It was under his watchu that what was then Southwestern Bell relocated its headquartersfrom St. Louix to San Antonio. Since then, Whitacres has taken a vested interest in the Alamo In addition to the millions of dollara contributed by the companhy in the SanAntonio community, Whitacre has been publicly recognizer for his personal contributions to the city.
Last San Antonio witnessed the opening of the Museo Alamedaq with the help of corporate partnersand AT&T. Whitacre served as honorary chairmanj of the museum for itsgrand opening. In 2003, for UTSA President Ricardo Romo presented Whitacre with the inaugurak Tom Frost Award for his leadership in busineszs and his dedication to enhancing the community through personal andcorporated philanthropy. In 1998, he serveds as the chairman for the Unitee Way Community Campaign for San Antonio and Bexar Because of those deep SouthTexads roots, and despite of his new Whitacre says he will not leave San Antonio for Detroit.
“This is my city,” says Whitacre about San “I’m not moving.” That said, Whitacre does hope to help restorre faith in anhistoric company. “Wer just want to help this icon,” he