GM CEO was dismissed by board

• Source: Global Times
• [11:04 December 02 2009]
• Comments

Fritz Henderson resigned Tuesday as CEO of GM

General Motors Co.'s board of directors announced the resignation of Chief Executive Fritz Henderson on Tuesday and GM Chairman Ed Whitacre will be the interim chief executive before the new CEO is selected.

Henderson became CEO of GM in March this year, after the former CEO Rick Wagoner was forced out by the Obama administration. Henderson helped GM through its July bankruptcy. The announcement of his departure came after a meeting of GM's 13-member board in Detroit.

Ed Whitacre, the Chairman of GM takes over as interim CEO.

"The board decided and Fritz agreed, it was time for us to make some changes," said Chris Preuss, GM spokesman, at a hastily held news conference.

Whitacre was appointed chairman of the company by the Treasury Department which has a 61 percent stake of GM after GM's bankruptcy reorganization.