American auto giant GM's board has unanimously named Mary T. Barra as its next chief executive officer (CEO). Fifty-one-year-old Barra, who will succeed outgoing Daniel F. Akerson, will be the first woman to ascend to the top position at GM.

The selection of Barra as the next chief of GM has set a new milestone for the industry long dominated by men. It has also sent a signal that top positions at the Detroit-based company are now also open to female.

Commenting on her selection as the company's next CEO, Barra said, "This is truly the next chapter in GM's recovery and turnaround history. And I'm proud to be a part of it."

Barra is the consummate insider, who has been serving the auto manufacturer for as many as 33 years. She has extensive experience in diverse fields if the industry. She has been a qualified, efficient engineer, a plant manager, the chief of corporate human resources. She also oversaw the company's global product development. But, now she faces an even greater responsibility - to drive drastic changes at the automaker, which around a year ago went bankrupt and required a $49.5 billion government bailout to stay operational.

While outgoing Akerson is both the chairman as well as CEO of the company, Barra has been elevated only to the post of CEO. She has not been given the post of chairman. Theodore M. Solso, an ex-head of Cummins - the engine producer - has been named as next chairman of the board.