Common Motors Common Motors has retained Kenneth Feinberg as a consultant to help it strategy its response to households of accident victims whose autos are being recalled for attainable ignition switch defects.
Chief Executive Mary Barra announced Feinberg’s hiring as she started testimony just before a Home subcommittee that is investigating why it took a lot more than a decade for GM to recall some 2.5 million cars outfitted with the faulty switches that are now blamed for 13 deaths.
“Mr. Feinberg is hugely experienced, and is quite knowledgeable in the dealing with of matters this kind of as this,” explained Barra. “He brings skills and objectivity to this work, and will support us assess the scenario and suggest the very best path forward.”
Feinberg is identified for his managing of compensation problems associated to 9/11, the BP BP oil spill in the Gulf of Mexico, and the Boston Marathon bombing.
“My mandate from the organization is to consider the choices for dealing with concerns surrounding the ignition switch matter, and to do so in an independent, balanced and aim manner based mostly on my prior expertise,” Feinberg mentioned.
Buyer groups have asked GM to create a $ 1 billion trust fund to cover liability claims for accidents that occurred prior to its 2009 bankruptcy. GM shed itself of all legal accountability for injuries or deaths induced by defective GM vehicles for crashes occurring prior to July 10, 2009.
In the course of her testimony, Barra mentioned she recognizes that GM has the 2 legal and moral responsibilities to its clients, and that “we will do the right thing.” Bringing on Feinberg to perform with the company and the families is the very first step, she explained, including that it will consider thirty to 60 days to evaluate the suitable response.
Barra reiterated her sympathies “to everybody who has been impacted by this recall” and promised “to hold ourselves accountable” when all the facts are recognized.