Ed Whitacre To Replace Fritz Henderson as Interim GM CEO
GM’s board accepted Fritz Henderson’s resignation today, and its Chairman Ed Whitacre will serve as CEO until a replacement is found. A search for a new President/CEO will begin immediately. Whitacre took no questions, saying the day had been “hectic.” A spokesman said the resignation was a decision reached mutually by Fritz and the board, based on the company’s “current position.” The spokesman refused to answer further questions about the leadership change, prompting one journalist to ask why GM hadn’t simply issued a release, rather than calling a conference. “This is stupid,” he said. The spokesman revealed that the government “was notified after the board’s decision,” and referred questions of hiring practice to the federal paymaster, Kenneth Feinberg. Otherwise, there are no real answers coming out of today’s statement and brief question-and-evasion period. Whitacre’s statement is after the jump.
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.
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