GM kicks out another chief exec

By Daily Maverick Legacy 2 December 2009

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


While we have your attention...

An increasingly rare commodity, quality independent journalism costs money - though not nearly as much as its absence.

Every article, every day, is our contribution to Defending Truth in South Africa. If you would like to join us on this mission, you could do much worse than support Daily Maverick's quest by becoming a Maverick Insider.

Click here to become a Maverick Insider and get a closer look at the Truth.


US president’s vow to drop countries that are ‘not our friends’ threatens US aid to SA

By Peter Fabricius

"We spend the first year of a child's life teaching it to walk and talk and the rest of its life to shut up and sit down. There's something wrong there." ~ Neil deGrasse Tyson