Former General Motors CEO Wagoner Elected to Board of Aleris Holding Co.
Rick Wagoner, the former General Motors Corp. chief executive officer, was elected to the board of aluminum recycler Aleris Holding Co.
Closely held Aleris, which is controlled by Oaktree Capital Management LP, recycles aluminum and makes products for the construction, packaging, electrical and transportation industries.
“He brings a wealth of expertise that will be invaluable to Aleris as we continue to strengthen our company and grow,” Steven Demetriou, chief executive officer of Beachwood, Ohio- based Aleris, said in a statement.
Wagoner, 57, was forced out at GM after U.S. President Barack Obama’s auto task force decided he was unable to craft a plan to save the automaker he ran for more than eight years. He officially retired in August 2009 after 32 years at the company.
GM lost $82 billion during Wagoner’s last four years in charge and ceded its title as the world’s top-selling automaker to Toyota Motor Corp.
Wagoner was elected to the Washington Post Co. board in June.