General Motors has announced CEO Fritz Henderson will step down from his position at the company, effective immediately. GM made the announcement at a surprise press conference Tuesday afternoon. A specific reason for Henderson’s departure was not given. Former board chairman Edward Whitacre will take over the role of interim CEO while the company searches for a new leader over the coming months.
A GM spokesman said the decision to replace Henderson was made just hours before the announcement during GM’s monthly board meeting.
Henderson replaced embattled CEO Rick Wagoner in March at the request of the Obama administration following a government-backed bailout of the automaker. Whitacre’s involvement with GM began in July when the company emerged from bankruptcy.
Whitacre made a brief statement to the press thanking Henderson for the “remarkable job” he did over the past few months. He said “momentum has been building” and GM’s aim is to repay the American and Canadian taxpayers “as soon as possible.”
Whitacre indicated he doesn’t intend to hold the position of CEO on a permanent basis.
Henderson was scheduled to make a keynote speech at the Los Angeles auto show tomorrow. Given his sudden departure, Bob Lutz has been scheduled to speak in his place.
