Fritz Henderson is freakin' out as GM CEO and Ed Whitacre is freakin' in
GM's old-guard CEO was likely pushed out by an impatient board, which will now look outside the company for his replacement. (Somebody like Ford's Alan Mulally would be nice.)
DUAL ROLES: Ed Whitacre will become both CEO and chairman. (Photo: Bill Pugliano/Getty Images)
Henderson was a good soldier in taking the company through bankruptcy (see cartoon at left) and making big budget cuts, closing factories and jettisoning Saturn, Saab and Pontiac, but he reportedly clashed with Whitacre over GM’s European Opel division (which Whitacre wanted to retain for credibility as a global player, despite much-publicized efforts and advanced efforts to sell it). Maybe it didn’t help that both the Saab and Saturn deals fell through, leaving both likely to be unceremoniously closed (a decision on Saab is expected by the end of December).
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