GM to be stronger, leaner, more responsible.

General Motors are positioned to be stronger, leaner and more responsible than ever before. This was stated by General Motors CEO Mary Barra, while addressing stockholders at the company’s 2014 Annual Meeting on June 10, 2014.

She also stated that the company is in the best position to meet and exceed competitive challenges. She also had a word of caution as she mentioned that in every market, consumers have more and better automotive choices than ever before. “And the competition is only going to get tougher. This is a reality. Another reality is that GM is positioned to be stronger, leaner and more responsive than ever before,” said Barra.

Terming the year gone by as a historic one, she said the company passed a number of important milestones. Some of the milestones included launching great products around the world like the Chevrolet Silverado, Cadillac CTS and Corvette Stingray.  The company earned net income attributable to common stockholders of $3.8 billion and earnings before interest, taxes adjusted for special items of $8.6 billion. This translated into a year-over-year increase of $700 million.

Referring to the ignition switch recalls, she again expressed her deepest sympathies to the victims and their families. “I know there are no words that can ease their pain and grief,” she said. Accepting responsibility for the mistakes she said she was committed to doing everything to prevent this sort of problem from ever happening again.

A week earlier, former U.S. Attorney Anton Valukas had delivered the findings of his independent ignition switch investigation to the GM Board. In turn Barra acted to hold individuals accountable for their conduct. Many of the recommendations made by Valukas have been implemented by the company.

Barra concluded by telling the stockholders that she felt very good about GM’s near- and long-term potential.  “Today, GM is a very good company,” she said.  “Tomorrow, we can be a truly great company, ” she added.

Last week, while describing the findings of an investigation by Valukas, Barra said that it was "extremely thorough, brutally tough, and deeply troubling." Barra said 15 individuals who were determined to have acted inappropriately were no longer with the company. Disciplinary actions were also taken against five other employees.

Source: GM Global / Picture of General Motors Co CEO Mary Barra / Photo courtesy GM Global.