Daniel Akerson
Encyclopedia
Daniel Francis "Dan" Akerson, (born October 21, 1948 in California
) is the current Chairman and CEO
of General Motors
. Akerson succeeded Edward Whitacre
as CEO on September 1, 2010, and became Chairman of the Board on January 1, 2011. Akerson was a Managing Director of The Carlyle Group and head of global buyout prior to joining General Motors
. He joined the General Motors
board of directors on July 24, 2009. Akerson also serves on the boards of American Express
and the U.S. Naval Academy Foundation.
, grew up in Mankato
, Minnesota
and currently resides in McLean, Virginia
. He holds a Bachelor of Science
degree in engineering
from the United States Naval Academy
and a Master of Science
degree in economics
from the London School of Economics
. Akerson served as an officer on a Naval
destroyer from 1970-1975. He is a Republican. He is married with three children.
in 1983 and served as the CFO for several years. He left MCI in 1993 to become chairman and chief executive of General Instrument
, where he succeeded former and future United States Secretary of Defense
Donald Rumsfeld
.
In 1996, Akerson was hired to be the chief executive of Nextel. During his tenure as CEO, Nextel's revenues grew from $171.7 million in the year before his arrival to more than $3.3 billion in 1998. Shortly after stepping down as CEO of Nextel in July 1999, Akerson was brought in by Craig McCaw
to run Nextlink Communications, later rebranded as XO Communications
. XO Communications entered bankruptcy in June 2002, and Akerson resigned as CEO in December 2002. Akerson joined The Carlyle Group in 2003.
In July 2009, Akerson was named to the board of directors of General Motors
as a representative of the U.S. Treasury, which owns a 61% stake in GM. On August 12, 2010 it was announced that Akerson would be the successor of Ed Whitacre as CEO of General Motors, starting September 1, 2010 and would also assume the Chairman of the Board position on January 1, 2011.
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
) is the current Chairman and CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of General Motors
General Motors
General Motors Company , commonly known as GM, formerly incorporated as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world's second-largest automaker in 2010...
. Akerson succeeded Edward Whitacre
Edward Whitacre, Jr.
Edward Earl "Ed" Whitacre, Jr. is the former Chairman and CEO of General Motors. He is also a former chairman of the board and chief executive officer of AT&T Inc., previously SBC. He served as national president of the Boy Scouts of America from 1998 to 2000...
as CEO on September 1, 2010, and became Chairman of the Board on January 1, 2011. Akerson was a Managing Director of The Carlyle Group and head of global buyout prior to joining General Motors
General Motors
General Motors Company , commonly known as GM, formerly incorporated as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world's second-largest automaker in 2010...
. He joined the General Motors
General Motors
General Motors Company , commonly known as GM, formerly incorporated as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world's second-largest automaker in 2010...
board of directors on July 24, 2009. Akerson also serves on the boards of American Express
American Express
American Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
and the U.S. Naval Academy Foundation.
Personal life
Akerson was born in CaliforniaCalifornia
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
, grew up in Mankato
Mankato, Minnesota
Mankato is a city in Blue Earth, Nicollet, and Le Sueur counties in the U.S. state of Minnesota. The population was 39,309 at the 2010 census, making it the fourth largest city in Minnesota outside of the Minneapolis-St. Paul metropolitan area. The county seat of Blue Earth County, it is located...
, Minnesota
Minnesota
Minnesota is a U.S. state located in the Midwestern United States. The twelfth largest state of the U.S., it is the twenty-first most populous, with 5.3 million residents. Minnesota was carved out of the eastern half of the Minnesota Territory and admitted to the Union as the thirty-second state...
and currently resides in McLean, Virginia
McLean, Virginia
McLean is an unincorporated community and census-designated place in Fairfax County in Northern Virginia. The community had a total population of 48,115 as of the 2010 census....
. He holds a Bachelor of Science
Bachelor of Science
A Bachelor of Science is an undergraduate academic degree awarded for completed courses that generally last three to five years .-Australia:In Australia, the BSc is a 3 year degree, offered from 1st year on...
degree in engineering
Engineering
Engineering is the discipline, art, skill and profession of acquiring and applying scientific, mathematical, economic, social, and practical knowledge, in order to design and build structures, machines, devices, systems, materials and processes that safely realize improvements to the lives of...
from the United States Naval Academy
United States Naval Academy
The United States Naval Academy is a four-year coeducational federal service academy located in Annapolis, Maryland, United States...
and a Master of Science
Master of Science
A Master of Science is a postgraduate academic master's degree awarded by universities in many countries. The degree is typically studied for in the sciences including the social sciences.-Brazil, Argentina and Uruguay:...
degree in economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
from the London School of Economics
London School of Economics
The London School of Economics and Political Science is a public research university specialised in the social sciences located in London, United Kingdom, and a constituent college of the federal University of London...
. Akerson served as an officer on a Naval
United States Navy
The United States Navy is the naval warfare service branch of the United States Armed Forces and one of the seven uniformed services of the United States. The U.S. Navy is the largest in the world; its battle fleet tonnage is greater than that of the next 13 largest navies combined. The U.S...
destroyer from 1970-1975. He is a Republican. He is married with three children.
Career
Akerson joined MCI Inc.MCI Communications
MCI Communications Corp. was an American telecommunications company that was instrumental in legal and regulatory changes that led to the breakup of the AT&T monopoly of American telephony and ushered in the competitive long-distance telephone industry. It was headquartered in Washington,...
in 1983 and served as the CFO for several years. He left MCI in 1993 to become chairman and chief executive of General Instrument
General Instrument
General Instrument was an electronics manufacturer based in Horsham, PA specializing in semiconductors and cable television equipment. The company was active until 1997, when it split into which was later acquired by Vishay Intertechnology in 2001, CommScope and NextLevel Systems General...
, where he succeeded former and future United States Secretary of Defense
United States Secretary of Defense
The Secretary of Defense is the head and chief executive officer of the Department of Defense of the United States of America. This position corresponds to what is generally known as a Defense Minister in other countries...
Donald Rumsfeld
Donald Rumsfeld
Donald Henry Rumsfeld is an American politician and businessman. Rumsfeld served as the 13th Secretary of Defense from 1975 to 1977 under President Gerald Ford, and as the 21st Secretary of Defense from 2001 to 2006 under President George W. Bush. He is both the youngest and the oldest person to...
.
In 1996, Akerson was hired to be the chief executive of Nextel. During his tenure as CEO, Nextel's revenues grew from $171.7 million in the year before his arrival to more than $3.3 billion in 1998. Shortly after stepping down as CEO of Nextel in July 1999, Akerson was brought in by Craig McCaw
Craig McCaw
Craig McCaw is a Seattle-area businessman and entrepreneur who achieved success as a pioneer in the cellular phone industry. He is the founder of McCaw Cellular and Clearwire Corporation.-Early life and cable TV beginnings:Craig is the second of four sons of Marion and John Elroy McCaw...
to run Nextlink Communications, later rebranded as XO Communications
XO Communications
XO Communications is a telecommunications company owned by XO Holdings, Inc...
. XO Communications entered bankruptcy in June 2002, and Akerson resigned as CEO in December 2002. Akerson joined The Carlyle Group in 2003.
In July 2009, Akerson was named to the board of directors of General Motors
General Motors
General Motors Company , commonly known as GM, formerly incorporated as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world's second-largest automaker in 2010...
as a representative of the U.S. Treasury, which owns a 61% stake in GM. On August 12, 2010 it was announced that Akerson would be the successor of Ed Whitacre as CEO of General Motors, starting September 1, 2010 and would also assume the Chairman of the Board position on January 1, 2011.