Fritz is Gone, Ed Whitacre Now CEO

[nsap]

BREAKING: Fritz is Gone, Ed Whitacre Now CEO
A bombshell announcement comes out of GM just before LAIAS.
www.gminsidenews.com
December 1, 2009
By: Nick Saporito

In the midst of enjoying some excellent product events out here in Los Angeles, news has just broke that CEO Fritz Henderson is stepping down. GM Chairman and former AT&T CEO is giving a live press conference right now stating that he will take over as Chairman and CEO of General Motors until a new CEO can be found. Details surrounding Fritz's exit from the company are unclear and unannounced at this time. The only comment out of GM is that Fritz and the Board of Directors met and felt that it is best for him to resign from the company.

GM will begin searching for a new President and CEO immediately.

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.

[wescoent]

About time...

[Perian]

Wow. I wonder if he was with Tiger Woods?

What can this be about?

[Canyonaro]

About time...

+1

Don't let the door hit you on the way out. Fritz was about as high on the list as the one he replaced in my book.

[Simon says]

God save GM.

[Canyonaro]

Wow. I wonder if he was with Tiger Woods?

I wonder if Tiger told Onstar in the accident not to send the police.

[FenwickHockey65]

All right, it's okay, they just said Bob is staying. We're good.

[LeSabre]

Fritz Henderson fired(aka resign)

http://finance.yahoo.com/news/AP-Sou....html?x=0&.v=1

Wow!

I'm looking forward to how this develops in the near future.



!!!

[Z71_Silvy]

BYE!

[Sgt Beavis]

OK Great!

NOW can we please have a G8 based Chevy Impala or Caprice?

Bob has my vote for CEO..

[kenman923]

Apparently, he saw the writing on the wall.

[chevyboy88]

good he seemed like a d-bag to me

[Barry Badrinath]

I was hoping that Whitacre would feel up to speed fast enough to cast off the rest of the riff raff before EOY.

Excellent news.

[Gm_Tooler]

Ed Whitacre takes down another GM corporate lifer.

[encino]

Someone please kick him on his way out.