Schoewe will be paid $200,000 a year.
General Motors Company today announced the election of Thomas M. Schoewe, pronounced Show-ee, former executive vice president and chief financial officer of Wal-Mart Stores Inc., to the GM board of directors.
The addition of Schoewe brings GM’s board of directors to 12 members, 10 of whom are non-employee directors. The majority of directors were approved by the U.S. Treasury Department. Schoewe owns no shares of GM stock, according to an SEC filing.
From 2000 to 2010, Schoewe, 59, was responsible for accounting and controls, business planning and analysis, internal auditing, treasury and tax at Wal-Mart. Prior to Wal-Mart, he served as senior vice president and CFO for Black & Decker Corp. Prior to that, Schoewe was with Beatrice Companies Inc. where he was the CFO and controller of Beatrice Consumer Durables Inc.
“We’re fortunate to have Tom join GM’s board of directors. He brings a wealth of business planning, financial experience and proven leadership, gained over more than 35 years at leading consumer-facing companies,” said Dan Akerson, GM chairman and chief executive officer.
Schoewe also serves on the boards of directors of KKR Management LLC, Northrop Grumman Corp. and Pulte Group Inc. Schoewe holds a bachelor’s of business administration degree in finance from Loyola University in Chicago.
