It’s been a big day for General Motors with a changing of the guard announcement at the top of the food chain. It was announced that the Chairman and CEO of General Motors, Dan Akerson was stepping down to be replaced by Mary Barra, the executive vice president of Global Product Development, Purchasing and Supply Chain.

The switch will occur on January 15th, 2014, making Barra the first female CEO in the global automotive industry. 

Since taking over on September 1st, 2010, Akerson, 65 led General Motors to a record $7.6-billion in profit off of $150.3-billion in sales. It was a big turnaround for the Detroit-based automaker who beforehand dealt with the economic downtown in the industry and the recall crisis. 

Akerson sped up his departure after his wife was recently diagnosed with an advanced stage of cancer.

“I will leave with great satisfaction in what we have accomplished, great optimism over what is ahead and great pride that we are restoring General Motors as America’s standard bearer in the global auto industry,” said Akerson.

Barra, 51 has some big shoes to fill, but with 33 years of experience at General Motors, she’s up for the task. 

“With an amazing portfolio of cars and trucks and the strongest financial performance in our recent history, this is an exciting time at today’s GM,” said Barra. “I’m honored to lead the best team in the business and to keep our momentum at full speed.”

Barra’s career began as an intern on the factory floor, but quickly rose up the ranks to head product development and quality. Her three decades of experience in the manufacturing, engineering and management makes her a worthy candidate to succeed Akerson.