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GM CEO Henderson Resigns

Move comes as sales figures show industry stabilizing

By John Johnson, Newser Staff

Posted Dec 1, 2009 4:15 PM CST

(Newser) – General Motors CEO Fritz Henderson has resigned after only 8 months in his post. He will be replaced on an interim basis by board chairman Ed Whitacre Jr. Henderson took over in March and led the company through bankruptcy proceedings and helped it toward its goal of scaling down to the core brands of Chevrolet, Cadillac, Buick and GMC. However, deals to sell Saturn and Saab have fallen through of late, notes the Wall Street Journal.

The news comes on the same day that the auto industry showed signs of stabilizing, notes the New York Times. GM, Ford, Toyota, and Honda all said sales were about the same in November as the previous year. Only Chrysler reported a significant drop of 25%. “The market is slowly steadying itself and gaining strength,” said a GM analyst. "We're encouraged."

GM CEO Fritz Henderson receives an earphone as he is prepared for a TV interview. (AP Photo/Michael Probst)

General Motors CEO Fritz Henderson. (AP Photo)

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Move comes as sales figures show industry stabilizing

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Chrysler, VW saw huge gains

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Ford, GM have best month of 2009

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Sales were artificially high in boom years; rebound unlikely

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Big Three bankruptcy would disrupt supply chain, further sour US economy

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Move comes as sales figures show industry stabilizing

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OTHER STORIES ON OUR RADAR

Chrysler • Toyota • General Motors • Ford • auto industry • Fritz Henderson • Ed Whitacre Jr.

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Car Sales Jumped 14% Last Month

Chrysler, VW saw huge gains

US Vehicles Edge Out Imports in Quality

Ford highest-ranked carmaker overall, Toyota falls

US Automakers See Sales Increase in May

Ford, GM have best month of 2009

'Car Bubble' Blows Up on Automakers

Sales were artificially high in boom years; rebound unlikely

Why Asian Automakers Don't Want Detroit to Fail

Big Three bankruptcy would disrupt supply chain, further sour US economy

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?