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Restructuring General Motors: CEO Mary Barra cut losing business, 15,000 people loses jobs!

November 29, 2018

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The CEO of General Motors, Mary Barra announced that the automobile giant will be closing down five factories in the United States as a part of restructuring the company. Mary’s call for shutting down the plants has been widely criticized as it will cause 15,000 employees losing their job.

The American president, Donald Trump has expressed his disappointment at the General Motors decision and has widely criticized the CEO Mary Barra. In a statement he released earlier, he said,

“This country has done a lot for General Motors. They better get back to Ohio and soon. So we have a lot of pressure on them.”

Right from the start, Mary Barra didn’t play by the old rules. With her appointment at General Motors, she became the first female CEO at any major automotive company. And from there she carried on restructuring the company.

Find out more on how Mary Barra is shaping General Motors towards the future. As you continue to read further, explore Mary Barra wiki facts and her net worth.

General Motors CEO Mary Barra: Inside General Motors

Since her appointment as the CEO of General Motors in January 2014, Mary Barra has made many changes in General Motors as a part of restructuring the company. Working in the company since she was 18 years, she felt she needed to make major changes in the company.

The first thing she did was cut loose of money-losing markets, like Africa, Russia, and India. Though the production continues for export, General Motors has shut down their showrooms in these countries. Further, she has cut out money-losing production of Opel-Vauxhall, Chevrolet Volt, Cruze and Impala. Now she has announced that General Motors will be shutting down five more factories in the US.

Cutting losing business is not all she has done. Mary Barra is shaping General Motors for future. In 2016, she bought Cruise Automation at $1 billion. The start-up company is working to develop self-driving vehicles and has taken lead in GM’s autonomous vehicle strategy. The Japanese company, Honda has also shown interest in Crusie automation and has invested in the company. It has also made a partnership with GM motors to manufacture hydrogen fuel cells.

Mary Barra Wiki-Bio

Mary Barra age is 56 years. According to Mary Barra wiki, she is of American nationality and was born in Royal Oak, Michigan in 1961. She celebrates her birthday on December 24.

Mary’s heritage can be traced well back to Finland. Her grandfather immigrated to the US in the 20th century. He married a Finnish girl with whom he had three children- two girls and a boy. The boy, Ray married a Finnish American girl, Eva Pyykkönen and had a baby- Mary Teresa Makela. Mary’s father Ray worked for Pontiac car which was owned by General Motors in Detroit.

Mary Barra grew up with her parents in Waterford, Michigan and attended Waterford Mott High School. After completing her high school, at an age of 18 years, she started working for General Motors to pay her college tuitions.

She attended General Motors Institute where she graduated Bachelor in Science in Electrical Engineering. Later, she received a fellowship from General Motors to attend Stanford Graduate School of Business. She received a masters degree in Business Administration in 1990.

Mary Barra has been working in various positions in General Motors for almost 40 years. It was in 2014 when she was appointed as the CEO of General Motors.

Who is Mary Barra Husband?

While studying at Kettering University (then General Motor Institute), Mary fell in love with her husband Anthony E. Barra. Soon their love deepened and the couple got married.

Mary Barra Husband Anthony E. Barra is an engineering consultant by profession. With her husband, she has two children.

Mary Barra, Anthony E. Barra, and their children live a happy family life in Northville, in Detroit suburbs.

Mary Barra Net Worth

Being the CEO of a high profile company, Mary Barra has enjoyed its perks. She has been receiving a huge amount as her compensation. In 2015, she became the highest paid automotive CEO and banked a massive $28 million in compensation. In 2016, she banked $22.6 million and $21.9 6 million in 2017. Her huge salary gives us a pretty clear idea about her net worth.

Further, she owns 65,000 units of General Motor’ s stock which amounts more than $14 million. So, with only her stocks and salary, Mary Barra net worth amounts to $50 million approximately.

Also, Forbes magazine has ranked Mary Barra as the fifth most powerful woman in the world. Owing to her hard work, and revolutionary idea, she has proved her worth.