GM CEO Resigns

GM just announced that president and CEO Fritz Henderson has resigned from the company.  The decision came during a GM board meeting where Fritz Henderson offered his resignation.  Chairman Ed Whitacre will fill the CEO role on an interim basis—adding it to his chairman duties—until a new president and CEO can be found, a process GM says will commence immediately.

Whitacre, who lives in Texas, will not seek to add the CEO job to his chairman duties full time, but added that he will now work from GM’s Renaissance Center headquarters in Detroit on a daily basis. “We now need to accelerate our progress toward . . . a return to profitability and repaying the American and Canadian tax payers as soon as possible,” added Whitacre.

The split was described as a decision taken equally between the GM board and Henderson, and that all parties agreed “changes needed to be made.” No further reason was given, but the suddenness of Henderson’s departure speaks otherwise. Indeed, one statement was that the “board decided and that Fritz agreed” it was time for the longtime GM man to go.

Henderson was scheduled to appear at this week’s L.A. auto show, but his duties there will be handled by Bob Lutz, who is staying with the company. Daily operations will not be affected.

Article Provided By Car & Driver

Reports From

GM Fastlane


Free Press

Edmunds Inside Line

Auto Observer



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