General Motors Chief Executive Mary Barra on Wednesday was named chair of the Business Roundtable, an influential group of U.S. business leaders, the automaker confirmed.

Barra was elected by fellow CEOs to succeed Doug McMillon, president and CEO of Walmart, who has chaired the group since January 2020. Business Roundtable includes other well-known business executives including Apple CEO Tim Cook and JPMorgan Chase & Co CEO Jamie Dimon.

Members of the Business Roundtable, founded in 1972, collectively lead companies with 20 million employees and more than $9 trillion in annual revenues, according to the group.

Barra will serve a two-year-term at a time when businesses face major issues in Washington, including proposals in Congress to hike corporate taxes and new environmental regulations.

The group has taken positions on a number of issues, including backing a $1.2 trillion infrastructure bill as well as policing and immigration reforms.

"I look forward to continuing to help advance policies that offer greater economic growth and opportunity for all Americans," Barra, who joined the roundtable in 2017, said in a statement.

Barra, who has worked at GM in a series of positions since 1980, was the first woman to run a global automaker and regularly appears in media rankings of top executives.