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Automaker GM Gets New CEO

The largest U.S. automaker, General Motors, is getting its fourth new chief executive officer in 18 months, Dan Akerson.

He takes over in September just as GM has posted its second consecutive profitable quarter. That is a major turnaround for the company that emerged from bankruptcy with the aid of $50 billion in emergency government loans.

Akerson is a member of the GM board of directors, but most of his business experience is in running, buying, and selling major telecommunications companies.

While the 61-year-old executive lacks manufacturing experience, analysts say he is well regarded on Wall Street, which will be helpful as the company gets ready to make a major stock offering.

Described as quiet and private, Akerson is expected to become the face of GM in an industry where the CEO is often required to be the biggest salesman.

Some information for this report was provided by Reuters.