GM boss Fritz Henderson resigns

DETROIT (WJRT) -- (12/01/09) -- In a stunning move General Motors President and CEO Fritz Henderson stepped down today from the automaker's top spot.

You saw that announcement made by G-M live right here on ABC 12 news.

This marks the second loss of a leader at the automaker this year.

Fritz Henderson's resignation comes as a surprise to many. He was on the job for about ten months.

Henderson did not speak at the Tuesday afternoon press conference held at GM's world headquarters in downtown Detroit.

Board Chairman Ed Whitacre, made the announcement.

Whitacre will now takeover as Interim CEO while the search begins for Henderson's successor.

Henderson took on the role after the government asked Rick Wagoner to step down back in March, navigating the automaker through its 40-day bankruptcy process.

But today at the board of directors meeting, Henderson submitted his resignation.

Publicly, Whitacre thanked Henderson for all of his work, and for leading the automaker through rocky times.

"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. Going forward," Whitacre said.

Whitacre went on to say that it will continue to be business as normal, and the automaker is on the right path to returning to profitability and repaying billions of dollars in loans from the U.S. and Canadian governments.

According to the Detroit Free Press, the Obama administration says this decision was made by GM's Board of Directors alone, and that the administration was not involved in the decision.

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general motors, fritz henderson, ed whitacre, automotive, matt franklin

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