GM says board member Marinello resigns
General Motors Co. said Monday that Kathryn Marinello has resigned from its board of directors following her recent appointment to lead Hertz Global Holdings.
The Detroit automaker said Marinello, who joined GM’s board in July 2009, has resigned effective immediately after she was named as president and CEO of Hertz, effective Jan. 3.
“On behalf of the board and the entire GM family, I’d like to personally thank Kathy for her many contributions to our company over the last seven years,” GM Chairman and CEO Mary Barra said in a statement. “She brought us valuable insight and counsel in many areas, from automotive financing and IT to the voice of the customer. Kathy will definitely be missed, and we wish her all the best with her exciting new opportunity.”
Marinello is among a few officers to serve continuously on the board since GM emerged as a new company following its bankruptcy. She previously was a senior adviser to Acres Management LLC, a global asset manager, and has worked in a number of positions leading companies in private equity and human resources, among others.
A GM spokesman said there is no announcement on whether the automaker will fill Marinello’s position on the board. After her resignation, the board has 11 members, including Barra.
Prior to Marinello’s resignation, the GM board had been 50 percent female, a high percentage for corporate boards.