 This reduced the cash burden of the merger for General Motors, while giving it complete control while maintaining an Australian character in name, ownership and management.Holden was appointed Executive Chairman of Directors and joint Managing Director of General Motors-Holden's Ltd. in August 1931 and later sole Managing Director.He was supplanted as managing director in 1934 by Laurence Hartnett but remained Chairman until ill health forced his resignation in January 1947.