UPDATE 2-GM names committee; board includes Bonderman

* Senior committee replacing two larger boards

* U.S. Treasury designates four board members, Canada one

* Board includes TPG's influential David Bonderman
(Adds details about Bonderman in paragraphs 1, 3-4)

By David Bailey and Soyoung Kim

DETROIT, July 23 (Reuters) - General Motors Co, which
emerged from bankruptcy earlier in July, on Thursday announced
a small senior executive team to lead its attempted turnaround
and the final members of its board, which include private
equity expert David Bonderman.

GM said the directors appointed by the U.S. and Canadian
governments had been confirmed on the board of the new company
formed by the sale of the automaker's best assets out of
bankruptcy.

Bonderman, co-founder of TPG [TPG.UL], is one of the most
influential figures in the U.S. private equity industry.

He has experience fixing struggling businesses -- he made
his name helping to pull Continental Airlines CAL.N out of
bankruptcy in the 1990s and turning the airline around.

GM, which is now majority-owned by the U.S. Treasury, is
not publicly traded. Executives and U.S. officials have said
the automaker could have an initial public offering as early as
next year.

The latest GM leadership announcements, which include the
departure of six executives, are among the first steps GM is
taking after its emergence from bankruptcy, and a promise from
Chief Executive Fritz Henderson to shake up the automaker's
often-criticized corporate culture.

Henderson has promised to strip away layers of management
at the 100-year-old automaker to make decisions much more
quickly than in the past.

GM plans to cut its white-collar workforce by more than 20
percent by eliminating 6,000 jobs by October. Cuts in the
executive ranks are expected to be even deeper at 35 percent.

The automaker replaced two senior leadership forums with
one smaller executive committee led by Henderson.

The committee includes Vice Chairman Bob Lutz, global
product development chief and Vice Chairman Tom Stephens, the
head of international operations Nick Reilly and Chief
Financial Officer Ray Young.

The other members are Tim Lee, head of global manufacturing
and labor relations; John Smith, head of corporate planning and
alliances; Mark LaNeve, vice president of U.S. sales and Bob
Socia, global purchasing chief.

GM also announced several executive departures and new jobs
for other executives. Global manufacturing chief Gary Cowger,
62, and GM North America President Troy Clarke, 54, are among
executives slated to retire.

Other retirements include Maureen Kempston Darkes, 60,
group vice president, GM Latin America, Africa and Middle-East,
and Ralph Szygenda, 60, chief information officer.

GM said the new directors were elected on Monday. They join
eight other directors on GM's board, which includes Chairman Ed
Whitacre, former chairman Kent Kresa and Henderson.

The Treasury, which holds more than a 60 percent stake in
GM, designated Daniel Akerson, Bonderman, Robert Krebs and
Patricia Russo to the board.

Akerson is managing director of private equity firm Carlyle
Group, and Russo is former chief executive of Lucent
Technologies.

The Canadian government and the government of Canadian
province Ontario, which hold 11.7 percent, have designated
Carol Stephenson to the board.

Board members who are not GM employees will receive a
$200,000 annual cash retainer.

The automaker also is held 17.5 percent by a United Auto
Workers union retiree healthcare trust and creditors from the
old GM, now called Motors Liquidation Co, hold a 10 percent
interest.
(Reporting by Soyoung Kim and David Bailey, additional
reporting by Megan Davies in New York, editing by Matthew Lewis
and Carol Bishopric)