Barra reassures shareholders of ‘stronger’ GM, despite recalls

Speaking to investors at its annual shareholders meeting, General Motors CEO Mary Barra has continued to reaffirm the company’s strengths and commitment to change amid the ongoing recall crisis.

The gathering followed the release of GM’s internal investigation, which cited a “pattern of incompetence and neglect” as contributing factors to the recall delays and consequent deaths.

Barra suggests the company will not have an estimated value of its victim compensation fund for several more weeks, though analysts expect the program to cost several billion dollars.

“I know there are no words that can ease their pain and grief,” Barra added. “I have and will be guided by two clear principles: to do right thing for those that were harmed and to make sure we accept responsibility for our mistakes and commit to doing everything within our power to prevent this sort of problem from ever happening again.”

The company has managed to maintain sales growth since the ignition-switch recall was first announced. Barra suggests the company is now positioned to be “stronger, leaner and more responsive” as it implements a number of changes to place safety at the top of its priorities.

“Today, GM is a very good company,” she said. “Tomorrow, we can be a truly great company.”