General Motors chief executive stands down
General Motors chief executive stands down
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By Adam Leveridge. |  |
Wednesday, 02, Dec 2009 11:50
By Sarah Garrod.
The chief executive of General Motors (GM) has stood down as head of the US car giant.
Fritz Henderson, who was appointed to the post by the government in March, will be replaced by chairman Ed Whitacre, as an interim replacement.
A statement from Mr Whitacre said last night that Mr Henderson, who had previously run AT&T, had done a "remarkable job in leading the company through an unprecedented period of challenge and change".
The company entered bankruptcy protection earlier this year, following a fall in sales prompted by the global financial crisis.
Mr Whitacre added: "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.
"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."
In a separate announcement, GM said the board of directors has received expressions of interest in Saab since the conclusion of negotiations with Koenigsegg Group AB. The board said it would evaluate potential bids between now and the end of December.
Earlier this month GM said it was rowing back on plans to sell Opel, its other European business, which includes Vauxhall in the UK.
The move came after the carmaker previously agreed to sell both brands to Canadian car parts company Magna.