According to media reports, General Motors (GM) announced on September 5 that Alfred Kelly, Jr., former Chairman and CEO of Visa, has joined the company's board of directors.
Kelly served as Visa's CEO from 2016 to 2023 and retired from the board in February 2024.
Mary Barra, GM's Chairman and CEO, stated, "As General Motors opens new growth opportunities in electric vehicles, autonomous driving technology, and software and services, Kelly's strong insights in finance, technology, and consumer markets are a great addition to the GM board."
Kelly is a seasoned corporate leader in the financial industry, and his expertise is expected to bring valuable knowledge to the automotive giant. This appointment is anticipated to enhance GM's strategic direction and operational oversight, further strengthening its market position.
Kelly's appointment to GM's board complies with the New York Stock Exchange's independence guidelines. He will receive a prorated annual retainer and participate in GM's deferred compensation plan. Upon the end of his board tenure, Kelly will be entitled to a cash award based on the market value of accrued deferred stock units. With Kelly's addition, GM's board now consists of 13 directors, 12 of whom are independent.
