Informed people live longer
13 December 2017 18:51 (South Africa)

GM booted Henderson after he failed 100-day review

General Motors’ CEO Fritz Henderson resigned after the board of directors said he hadn't done enough to fix the finances and culture of the biggest US car maker. He got the boot after a 100-day review on his performance since GM's bankruptcy. The board said Henderson had made progress, but it wasn't enough. It sounds like being at the top of the pile is no different from being at the bottom of the heap. Now GM chairman Ed Whitacre has taken over on an interim basis. That makes one wonder who will review his performance in time to come. Henderson, a 25-year GM employee, became CEO after a US government task force asked former head honcho Rick Wagoner to leave as part of a rescue plan. Bloomberg says the company is looking to bring in someone who has a completely different perspective. At this juncture, one can only wonder what that means. Read more: Business Week, International Business Times

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