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GM CEO Fritz Henderson Resigns

 
7 1,114 views December 1, 2009

Fritz Henderson, GM CEO

Fritz Henderson, GM CEO

At its monthly meeting in Detroit today, the General Motors board of directors accepted the resignation of Fritz Henderson as director, president and CEO of the company.

Replacing him temporarily until a successor can be found will be Ed Whitacre, the current chairman of the board. Henderson had been on the job less than a year after the controversial resignation of previous CEO Rick Wagoner, but during his short stint he has led the company through an unprecedented period of challenge and change.

The Board will immediately embark on a search for a successor, offering them the chance to bring in someone from outside the auto industry. Ford Motor Co. did the same thing four years ago, when it hired Alan Mulally from Boeing.

"We all agreed changes needed to be made," Whitacre said in a very short press conference. "We are united and committed to the task we have at hand," which is to "accelerate our progress" toward profitability and repaying the U.S. and Canadian taxpayers who have funded this spring's GM bailout after its 40-day bankruptcy.

[General Motors]





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Comments (7)

  1. By NoNameDenton Posted: 12/1/2009 3:37pm PST

    Well that lasted all of about 8 months, and next up at bat is.......
     
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  2. By bepsf Posted: 12/1/2009 4:56pm PST

    Please GM - Try choosing a product guy this time around and not another geek from Finance.
     
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  3. By  gifts for men Posted: 12/1/2009 8:11pm PST

    GM is living on life support as all these measures should have been taken at the beginning of the bailout versus now. GM will be six-feet under before long. The taxpayer bailout has just lined the pockets of the clowns in upper-management. Where is the taxpayers' oversight to protect taxpayers' interest? GM simply offers nothing of any sustainable substance to stay in business....
     
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  4. By  magnesium Posted: 12/1/2009 8:22pm PST

    The GM Board of Directors are total and complete Idiots. Getting rid of knowledgeable and experienced CEO's one after another is only going to help Destroy GM faster. Blaming any auto industry CEO is extremely foolish and a clear demonstration of the lack of knowledge and Ignorance in the Board Rooms.
    It is very simple: Consumers with empty pockets and too much debt already cannot afford to purchase new vehicles, and regardless of how many CEO's they burn through at GM that underlying fact that consumers are Already broke is not going to change.
     
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  5. By Mike Posted: 12/1/2009 9:36pm PST

    With the billions (that's right billions!!!) spent on rescuing this "private" company between bailouts and Cash4Clunkers, they still can't produce a vehicle that will outsell the Japanese. Maybe they should realize that Americans need jobs before they can buy cars. The last batch of overpriced cars they brought off the assembly line just got repossessed (see: http://www.repofinder.com) from unemployed Americans. I'd rather push a Toyota than drive a GM.
     
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  6. By  r4i Posted: 12/1/2009 10:49pm PST

    GM will be six-feet under before long. The taxpayer bailout has just lined the pockets of the clowns in upper-management. Where is the taxpayers' oversight to protect taxpayers' interest? GM simply offers nothing of any sustainable substance to stay in business....
     
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  7. By ram Posted: 12/2/2009 12:44pm PST

    I think Carlos Ghosn could be good CEO
     
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