General Motors, which filed for Chapter 11 bankruptcy protection earlier today in New York City, says it will name corporate turnaround expert Al Koch as its Chief Restructuring Officer. Koch will oversee the “bad” GM assets that will remain in bankruptcy while “good” GM emerges quickly – assuming all goes as planned.
Koch’s AlixPartners LLP has been involved with GM since January, according to Automotive News. Koch will oversee the liquidation or sale of GM’s assets, including its plants and its North American units, including Saturn and Hummer.
Currently vice chairman and managing director of AlixPartners, Detroit-based Koch was interim chief financial officer of KMart during the retail giant’s Chapter 11 restructuring several years ago.
