General Motors names Mary Barra as new boss US car giant General Motors (GM) has promoted product development chief Mary Barra to the post of chief executive. She replaces Daniel Akerson, and is the first woman to run a US carmaker. Mr Akerson, who is also currently chairman of the company, will leave both of his posts in mid-January. His wife has recently been diagnosed with advanced cancer. Earlier this week the US government sold its remaining shares in GM, the world's second biggest carmaker. Overall, it lost around $10bn (£6bn) on its bailout of the carmaker in the aftermath of the financial crisis in 2008 and 2009. GM will no longer be known as 'Government Motors' says specialist Jeff Bennett The US Treasury spent $49.5bn bailing out GM, and took a 61% stake in the company. Satisfaction Ms Barra has been in charge of design and engineering, and before that was head of human resources at the company. She joined GM as a student in 1980. In a message to the company's employees on Tuesday, Mr Akerson said: "I will leave with great satisfaction in what we have accomplished, great optimism over what is ahead and great pride that we are restoring General Motors as America's standard bearer in the global auto industry." Current chief financial officer, Dan Ammann, was named GM president. He will also take responsibility for the Cadillac and Chevrolet brands.