Whitacre plans to stay planted in S.A. as GM chair - Puget Sound Business Journal (Seattle):

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But that is preciselyt the role he will playif GM’sa Chapter 11 reorganization plan is approved by the U.S. Bankruptcyg Court. Interim GM Chairman Kent Kresa saysthe Detroit-based automakefr has tapped Whitacre, former chairmann and CEO of , to lead the companyt once it exits bankruptcy. Was Whitacrer expecting that he would be the next chairmamnof GM? “No,” he tells the in an exclusive 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 company,” Whitacrer explains. “I hope I can help get this where we want itto go.
” On June 1, GM announcee that it had filed voluntary petitions for reliev under Chapter 11 of the United Statews Bankruptcy Code in the U.S. Bankruptcy Court for the Southernb District ofNew York. The company’sz reorganization plan includes selling substantially all of its globalp assets to anew GM. That sale is subject to the approval ofthe court. Kresa will continue to serve as interimk chairmanuntil GM’s reorganization plan is approved and Whitacrer takes over the “The appointment of Ed Whitacr e as chairman represents a very auspicious beginning for the new Kresa said in a press statement.
“Wes look forward,” he adds, ‘to workiny with him to complete the reinvention of GM and maximiz the enormous potential of thisnew Whitacre, 67, was chairman and CEO of AT&T Inc. and its predecessort companies from 1990to 2007. It was under his watch that what was then Southwestern Bell relocatex its headquartersfrom St. Louis to San Antonio. Sinces then, Whitacre has taken a vested interest in theAlamo City. In addition to the millions of dollars contributeed by the company in the San Antonio community, Whitacre has been publicly recognized for his personal contributione to the city.
Last San Antonio witnessed the opening of the Musep Alameda with the help of corporate partnersaand AT&T. Whitacre served as honorary chairman of the museum for itsgrand opening. In 2003, for UTSA President Ricardo Romo presented Whitacre with the inaugural Tom Frostr Award for his leadership in business and his dedicatio to enhancing the community through persona l andcorporate philanthropy. In 1998, he served as the chairmajn for the United Way Community Campaigm for San Antonio andBexare County. Because of thoswe deep South Texas roots, and despite of his new Whitacre says he will not leave San Antonikfor Detroit. “This is my city,” says Whitacrwe about San Antonio.
“I’m not moving.” That said, Whitacree does hope to help restored faith in anhistoric company. “We just want to help this he says.