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Drew Dowdell

Henderson resigns as GM CEO

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Henderson to step down

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Details are just now coming that General Motors CEO Fritz Henderson will step down from his post, and Ed Whitacre will act as interim CEO.

Henderson took over the CEO spot when the federal government gave his predecessor, Rick Wagoner, walking papers.

Fritz Henderson was undoubtedly part of the discussions involving the sale of the HUMMER brand, though it's unlikely that this will have an impact on an eventual sale.

Late last week we found out GM's attempt to sell the SAAB brand had fallen through, similar to the Saturn deal fallout.

Ed Whitacre taking over as interm CEO. Repaying American and Canadian tax payers as soon as possible is top

priority.

Official Statement:

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.

Fritz has done a remarkable job in leading the company through an unprecedented period of challenge and change. While momentum has been building over the past several months, all involved agree that changes needed to be made. To this end, I have taken over the role of Chairman and CEO while an international search for a new president and CEO begins immediately. With these new duties, I will begin working in the Renaissance Center headquarters on a daily basis. The leadership team – many who are with me today – are united and committed to the task at hand.

I want to assure all of our employees, dealers, suppliers, union partners and most of all, our customers, that GM’s daily business operations will continue as normal. I remain more convinced than ever that our company is on the right path and that we will continue to be a leader in offering the worldwide buying public the highest quality, highest value cars and trucks. We now need to accelerate our progress toward that goal, which will also mean a return to profitability and repaying the American and Canadian tax payers as soon as possible.

In closing, I want to once again thank Fritz Henderson for his years of leadership and service to General Motors; we’re grateful for his many contributions. I look forward to working with the entire GM team as we now begin the next chapter of this great company.

Government had no role in the decision. U.S. Government was informed of the decision after the fact.

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Interesting

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You know in a way, it would be nice if Ed just stuck around in the CEO position for a while.

Out with the old blood, in with the new.

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I figured this was coming, but I thought it would be in 2010. GM needs new leadership anyway.

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Remember the statement - Bob Lutz works for me? Now FH is gone - RWD Chevy is BACK - as BL does not work for him anymore!!!

Contrary to my initial impressions FH did a better job.

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I guess I figured this was coming, but I think he did a better job than expecteded thus far. Hopefully they can get someone Alan Mullaly-ish...

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Like I commented on C&G's status on Facebook, Fritz did his job, now it's time for Ed to carry the company through the rest of the transition into 'New GM'.

I don't see a new CEO stepping in that soon, unless they want to run the risk of changing CEO again in a year. They need to choose well.

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Guys can I ask a favor? At the bottom of the article is a "vote up" link. Can you click that and vote up this story?

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Is this where PCS announces his new CEO-ship and resurrects Pontiac? Look under your seats everybody! Its the keys to your new 2011 Zeta-Coupe-60 based Pontiac GTO!

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Like I commented on C&G's status on Facebook, Fritz did his job, now it's time for Ed to carry the company through the rest of the transition into 'New GM'.

I don't see a new CEO stepping in that soon, unless they want to run the risk of changing CEO again in a year. They need to choose well.

Absolutely 100% agree.

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For a guy tosse into a tough job at a very bad time he did as well as he or most others could considering.

I just hope they get a good money man that will work well with Bob Lutz. We have the product and marketing in the the right direction we just need to get the business side moving in the right direction a little better.

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So far, I like the idea of Whitacre at the helm....I'd like to see GM explore that idea more.

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Whitacre is a clean slate in Auto Industry. His ads were convincing and seems to be amiable and yet goal focused. I agree that he should see a summer or two as GM head.

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Having fresh blood is working well for Ford. If the board didn't thing GM was moving fast enough with Henderson, then a change was needed.

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I'm on the Mark Reuss team. Anyone want to join?:)

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I find myself wondering about the "why" of this, at this time.

There are always reasons, it would be interesting to know what they are.

I'm on the Mark Reuss team. Anyone want to join?:)

I second that!

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I'm on the Mark Reuss team. Anyone want to join?:)

I had been hoping he would be the new General Manager of Buick-GMC. But the whole enchilada is fine, too :)

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I like big Ed alot. I would actually like to see him have a go at it, I think a fresh face is needed. As for Mark Reuss, hell yes! Now let Lutz do what he does best spill the beans on future products, like that new RWD Chevy or two.

Edited by gm4life
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That's pretty freakin' hiliarous.

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