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GM board member Barnevik steps down
GM board member Barnevik resigns for personal reasons; is former chair of AstraZeneca
[LIST][*]Tuesday February 3, 2009, 4:09 pm EST[/LIST] DETROIT (AP) -- General Motors Corp. says board member Percy Barnevik has decided to step down for personal reasons after serving for 12 years.
The automaker says in a news release that the resignation is effective Tuesday.
Barnevik is a retired chairman of drug company AstraZeneca PLC.
GM gave no further details on why Barnevik was stepping down. Barnevik says in a statement that he remains a strong supporter of the company's board and management.
GM nearly ran out of cash last month and was forced to borrow $9.4 billion from the federal government. The nation's largest automaker must turn in a plan to become viable before it can get another $4 billion in loans.