Ed Whitacre has just accepted the position as the new CEO of General Motors, according to the company.  And already, the man has set goals for the company. Included in his list of goals for the company is repaying $5.7 billion in loans from the US and Canadian governments by June, an initial public offering, and the continued divestment of non-core brands.

The sexagenarian said in a press conference that his decision to accept an offer from the board to turn his interim-CEO role into a continuing career was to help General Motors become more durable.

Whitacre took over for former CEO Fritz Henderson in December; he became GM’s third CEO in less than a year. He remains Chairman of the Board, a job he took on when GM wriggled out of bankruptcy in July.

Whitacre wants to lead the company through an IPO in short order to boost the company’s level of cash.  “The next milestone will be our initial public offering where we can be traded as a public company again, allowing the government to divest its equity in an orderly and timely manner,” he said.  Whitacre noted that paying back government-backed loans is a crucial step to becoming profitable again.

The former AT&T CEO Whitacre will be joined by CFO Chris Lidell, who was CEO also at Microsoft.