General Motors Co GM CEO Mary Barra has been named the chairperson of the Business Roundtable, a nonprofit lobbyist association based in Washington, D.C. whose members are chief executive officers of major United States companies.
What Happened: Barra would be the first woman in nearly five decades to take charge as head of the Business Roundtable. She will begin a two-year term in January.
Barra succeeds Walmart Inc WMT CEO Doug McMillon; she joined the Roundtable in 2017 and currently serves as chair of the education and workforce committee.
“Her understanding of America’s workforce and vision for the future is the exact perspective the Roundtable needs as we continue to work with Congress and the Administration on public policies for tomorrow,” McMillon said in a statement.
Why It Matters: Barra began her career with GM in 1980 as a co-op student and then rose the ranks to be named the CEO in 2014. Her appointment comes at a crucial time as the U.S. economy and companies navigate through the challenges thrown by the COVID-19 pandemic.
In her current role at the coalition, Barra has engaged Roundtable CEOs and policymakers on policies and business initiatives designed for American workers.
Price Action: GM shares closed 0.15% higher at $52.93 on Wednesday.
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