CNBC: General Motors CEO to resign

[cal04]

Source: MSNBC

Board Chairman Whitacre to be interim replacement for Henderson

People familiar with the matter say General Motors' Chief Executive Frederick "Fritz" Henderson will resign, CNBC's Phil Lebau reports.

The company's chairman of the board Ed Whitacre Jr. will serve as interim replacement, the Associated Press reported.

These people requested anonymity because the news has not yet been announced.

Read more: http://www.msnbc.msn.com/id/34227871/ns/business-autos/

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http://news.yahoo.com/s/ap/20091201/ap_on_bi_ge/us_gm_ceo_resigns

[elehhhhna]

1. at a cost of a buttrillion dollars, no doubt.

[skoalyman]

2. k/r

[WheelWalker]

3. +1

[naaman fletcher]

9. He just wants his golden parachute while gov't funds are available to pay for it.

eom

[WriteDown]

4. That didn't take long. nt

[thelordofhell]

5. Whoa-o Take The Money And Run........Hoo-Hoo!!

**clapclapclapclapclap**

[tabasco]

6. The search is on for another inbred, incompetent moron!

Is Carly Fiorina available

[ChairmanAgnostic]

8. don't be cruel . . .

You know I can be found,
Sitting home all alone,
If you can't come around,
At least please telephone.
Don't be cruel to a heart that's true.

Baby, if I made you mad
For something I might have said,
Please, lets forget the past,
The future looks bright ahead,
Don't be cruel to a heart that's true.
I don't want no other love,
Baby it's just you I'm thinking of.

[ChairmanAgnostic]

7. wow. That's fast. Anyone here have a guess as to why?

[Blue_Tires]

10. some other stories indicate he clashed with the board

and being a company lifer, had a lot of the "old" style GM thinking...(and I don't mean the "good" old)

[ChairmanAgnostic]

11. things might be looking up, then?

I remember when GM had the best collection of engineers around. They paid top dollar, they gave them free reign, and they developed all sorts of new technologies, many of which never ever made it into an american car. I also knew when they had a team of designers that were also superb. I met both engineers and designers (retired) from there, and even in the 70s and 80s when I met them, they had horror stories about how the company was changing. By the 90s we would call it creeping MBAism. Or death by accountant.

[clear eye]

12. Here's another story w/ some more details

http://www.guardian.co.uk/business/2009/dec/01/general-motors-fritz-henderson-resigns

It seems Henderson wanted to keep the upscale Saab and dump econocar makers Vauxhall and Opel, while the board wanted to do the reverse. Looks like the board won.

[blue_onyx]

13. If that true, Henderson is wrong.

From what I've heard, Saab has been unprofitable since before GM bought it. Why keep it? Also, I like Opel and they are planning to use some Opel designs for Buick in the US. It makes much more sense to keep Opel than Saab.