DETROIT - General Motors Co on Tuesday said Chief Executive Dan Akerson will step down next month and be replaced by Mary Barra, the company's global product development chief, marking the first time a major U.S. automaker has been led by a woman.
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FRANKFURT - Germany's leading shipping lenders face 16 billion euros ($22 billion) in credit losses in the coming year as a severe sector slump makes it increasingly difficult for shipowners to repay their loans, ratings agency Moody's said.
FRANKFURT - Korean auto maker Hyundai will seek to expand in Europe, but will not seek to maintain its market share at all costs, Allan Rushforth, Chief Operating Officer at Hyundai Motor Europe said on Tuesday.
- Wal-Mart Stores Inc named David Cheesewright as head of Walmart International, succeeding Doug McMillon who was appointed chief executive of the company last month.
Reuters reports that GM's current CEO, Daniel Akerson, will step down on January 15 and be replaced by the company's global product development chief, Mary Barra.