Ed Whitacre To Replace Fritz Henderson as Interim GM CEO

Edward Niedermeyer
by Edward Niedermeyer
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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  • Dougfixit Dougfixit on Dec 02, 2009

    Penske would be an excellent choice, but I think there would be a clash of titans between him and Whitacre.

  • GoHuskers GoHuskers on Dec 03, 2009

    I saw Fritz interviewed on "Meet the Press" last summer. He was as impressive as a Yugo in a BMW showroom. A man clearly over his head...and likely has been for many years.

  • Alan In Australia only hairdressers would buy this Monaro as its known as. Real men had 4 door sedans and well hung men drive 4x4 dual cab utes with bullbars and towbars. I personally think this is butt ugly. Later iterations of the Commodore were far better looking.
  • Jeff As a few commenters on prior articles on this site about the UAW strike mentioned many of the lower tiered suppliers could go bankrupt and some could possibly go out of business if the strike is prolonged. Decades ago Ford and GM owned many of their own suppliers but as we all know over the years manufacturers have been outsourcing more parts and with just in time supply there is little room for any interruptions to production including strikes, natural disasters, and anything unforeseen that could happen. When the strike ends there will be delays in production due to parts shortages. It costs suppliers money to just keep making parts and stockpiling them especially when many parts have razor thin profit margins.
  • Lou_BC You can't go too wrong with a SBC, even a modded one. I get the vibe this has had a hard life. Kinda like the hot chick with a "property of H.A." tat on her butt.
  • El scotto Think of three vehicle assembly plants on the same road with fast food joints across the road. The fast food joints sell food to the workers from all three plants. Think of the suppliers as the fast food joints. They sell to all three plants and if the plants are idled, the suppliers have to shut down too.
  • The Oracle This is a proper muscle coupe clunker.