GM board to shed three members as UCLA’s Telles says she will stage down

Cynthia Telles will depart the GM board after the annual shareholder meeting.

Associated Subjects

Common Motors now expects to lose 3 of its outside board members this 12 months.

Cynthia Telles, who joined the GM board in April 2010, plans to phase down after the company’s annual shareholder meeting this summer time, GM explained today. Telles is a longtime faculty member in the UCLA School of Medicine’s psychiatry department and director of the UCLA Neuropsychiatric Institute Spanish-Speaking Psychosocial Clinic.

“Dr. Telles attributed her choice to her latest appointment to serve on the Board of Airport Commissioners of the Los Angeles World Airports and to her self-confidence in the Company’s enhanced circumstance and prospects,” GM stated in a regulatory filing.

GM also expects 2 board members appointed by the U.S. Treasury Division in 2009 to depart quickly. Final month, it said David Bonderman would not seek out reelection and Robert Krebs would leave just before the yearly meeting to comply with a policy that demands board members to retire by age 72.

GM currently has 12 board members who don’t work for the automaker, in addition to CEO Mary Barra and Steve Girsky, who is serving as a senior adviser through April.

“It has been a wonderful privilege to have worked with GM’;s board and its management staff,” Telles explained in a statement launched by GM. “With GM’;s return to profitability as a public company, the government ending its formal position and the election of our new leadership, the business is on firm footing for the future.”

You can reach Nick Bunkley at nbunkley@crain.com. — Comply with Nick on
Twitter

Leave a Reply

Your email address will not be published. Required fields are marked *