GM announces "veteran" chief restructuring officer

Now GM's future lies in the hand of a new CEO. The General Motors has announced that specialist Albert Koch will be the chief restructuring officer. Let's take a look at his profile.

Koch was interim president and chief executive of Champion, leading major financial and operational overhauls.

He was one of the architects during retail giant Kmart's bankruptcy reorganization of a multi-year business plan and also helped revitalize a health insurer and a manufactured-home builder.

Now, the veteran will be GM's primary representative while it is in bankruptcy court protection.

He will work to streamline units, sell unprofitable assets and build consensus among management, debt holders, employees, customers and communities.