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NINETY EIGHT REGENCY

Southfield firm hires former GM chief

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Southfield firm hires former GM chief

Robert Snell / The Detroit News

Former General Motors Co. Chief Executive Fritz Henderson will work as a consultant for the company hired to dispose of the unwanted assets the automaker left in bankruptcy. It is Henderson's second notable consulting job since he was ousted by Chairman and now-CEO Edward Whitacre Jr. on Dec. 1. The hire, disclosed in legal filing Friday in U.S. Bankruptcy Court, comes one month after GM hired Henderson as a $60,000-a-month consultant, specializing in international operations.

The legal papers did not indicate how long Henderson will work as a consultant to Southfield-based restructuring firm AlixPartners LLP, or his compensation. But he will not consult on any matters involving the old GM, known as Motors Liquidation Co.

"From time to time, AlixPartners contracts with experienced specialists to complement our existing team and to help us grow, and that's our purpose in signing on Fritz Henderson as an independent contractor working on a part-time basis," AlixPartners said in a statement.

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"Mr. Henderson is a broad-based strategic thinker with contacts all around the world, including in parts of the world where we hope to grow even faster."

Henderson, whose consultant contract started March 1, will work as an independent contractor, according to the legal filing.

AlixPartners Vice Chairman Al Koch, is chief executive and president of Motors Liquidation. He disclosed Henderson's hiring in a document filed in the bankruptcy estate case.

Subsidiary firm AP Services LLC has reaped millions handling GM's bankruptcy estate. The firm billed GM and its bankruptcy estate more than $23 million in the 90 days leading up to and following the June 1 bankruptcy filing. Since then, AP Services has billed an additional $12.7 million.

From The Detroit News: http://www.detnews.com/article/20100316/AUTO01/3160337/1148/Southfield-firm-hires-former-GM-chief#ixzz0iLFP4Rgz

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