DETROIT General Motors Co. President and CEO Frederick "Fritz" Henderson stepped down from his post yesterday following a series of disagreements with the automaker’s board of directors.
Henderson had been in the role less than nine months, stepping in after former Chairman and CEO Rick Wagoner was ousted by the U.S. government’s auto task force.
Henderson had spent 25 years at General Motors. As president and CEO, Henderson was tasked with guiding the "New General Motors" back to a position of strength.
GM Chairman Ed Whitacre will immediately serve as interim president and CEO, while the company searches for Henderson’s replacement.
Following Henderson’s resignation yesterday, Whitacre said in a statement, “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.”