GM CEO Fritz Henderson Resigns

[Rob]

GM Statement Attributed to To Chairman Ed Whitacre

2009-12-01

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.

Chris Preuss
V.P. Global Communications
Tel: Phone: +1-313-667-3437
Mobile: Mobile: +1-313-405-6953
jchristopher.preuss@gm.com

Randy Arickx
Finance
Tel: 313-667-0006
Mobile: 313-268-7070
randy.c.arickx@gm.com

 

[Lola's Mom]

Such a joke.

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=rowcolor2><TD class=col1></TD><TD class=col2>Motors Liq Co stock ..... from a HIGH of 62 cents today to a low of 60 cents. (the old GM)

Where is this going? Anyone want to put in their 2 cents?


</TD></TR></TBODY></TABLE>

 

[b_pappy]

2 cents might be a little high...
Bruce

 

[Little Woman]

Such a joke.

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=rowcolor2><TD class=col1></TD><TD class=col2>Motors Liq Co stock ..... from a HIGH of 62 cents today to a low of 60 cents. (the old GM)

Where is this going? Anyone want to put in their 2 cents?



</TD></TR></TBODY></TABLE>

I'll tell you where it's going. He got off the sinking ship. That's my .001, thats what it is worth right now.

 

[cubby558]

I personally would have waited for Obama to tell me to step down!

 

[speedway]

They did away with all these cars and the value went with them. GM can build exciting cars the problem is that they want the CTS to be the flagship and then they unvail it. I just dont understand who is coming up with these designs. Look at the Camaro this is one awsome looking car I mean its not like they cant do it. Its very hard to understand. The engine the interior is great and proven but as Bruce says "life to short to drive a boring car" .

Fred

 

[b_pappy]

For clarity, my comment was in regards to old GM stock (MTLQQ). I do not believe anyone expected Fritz to be long term, just surprised by his expedited leaving, whether his decision, or asked to leave. Jalopnik has a real profanity laced diatribe from someone alleging to be his daughter. "profanity laced" is being polite, but pretty funny.
http://jalopnik.com/5416549/daughte...tacks-new-gm-ceo-on-facebook?skyline=true&s=i
Personally, I'm betting the restructured GM will build more great vehicles and be around for a long time, at least I hope so. I'm not sure if they went away if I would buy Ford or foreign. Like I said, hopefully I never have to worry about that.
Bruce

 

[speedway]

For clarity, my comment was in regards to old GM stock (MTLQQ). I do not believe anyone expected Fritz to be long term, just surprised by his expedited leaving, whether his decision, or asked to leave. Jalopnik has a real profanity laced diatribe from someone alleging to be his daughter. "profanity laced" is being polite, but pretty funny.
http://jalopnik.com/5416549/daughte...tacks-new-gm-ceo-on-facebook?skyline=true&s=i
Personally, I'm betting the restructured GM will build more great vehicles and be around for a long time, at least I hope so. I'm not sure if they went away if I would buy Ford or foreign. Like I said, hopefully I never have to worry about that.
Bruce

Wow, that is something else!!! I am with you I would just be in deep depression if GM doesnt make it. I love my Corvette. They have everything in place I wish they would revamp there design staff.

Fred