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24 August 2017 12:25 (South Africa)

GM kicks out another chief exec

fritz henderson

It’s tough at the top, and lonely, too. GM’s chief executive Fritz Henderson has resigned unexpectedly from the state-owned car maker (GM was “nationalised” by government bailouts), adding further instability to one of the biggest conglomerates in the world as it struggles to right itself after bankruptcy. Just months earlier, Henderson's predecessor, G. Richard Wagoner Jr., was forced to resign by the Obama administration, but this time it looks like Henderson jumped by himself, after supping from the poisoned chalice and finding it was not to his liking. Both the White House and the company say government had no direct role in Henderson's departure, which means he was only given a slight push by the board. Edward E. Whitacre Jr., the former head honcho at AT&T who was appointed by government as GM board chairman earlier this year, will serve as interim chief executive. Good luck to him. Read more: The Washington Post, The Daily Beast

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