GM CEO Henderson Resigns

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On the eve of the L.A. Auto Show, GM announced that its CEO Fritz Henderson will resign from his post. He will be replaced by company chairman Ed Whitacre Jr. on an interim basis.

GM plans to conduct a global search for a new chief executive. Henderson was elevated to the top spot after former GM chief Rick Wagoner was asked to leave by the Obama administration in April. The Treasury Department installed Whitacre as the company’s chairman following GM’s bankruptcy.

No reason was given for the sudden shakeup in management, but the Detroit News reports that Henderson clashed with GM’s board over the future of its European unit, Opel and Vauxhall. The board apparently dismissed Henderson’s proposal to unload the unit.

Henderson joined GM in 1984 and held a number of positions within the company during that time, including the head of GM Asia Pacific and GM Europe as well as chief financial officer.

Henderson Resigns as Chief of General Motors (New York Times)