Eight months into the job, Fritz Henderson has resigned as the CEO, President and Director of General Motors. The surprise news broke out just hours before Henderson was supposed to grace GM’s booth at the LA Auto Show. Company chairman of the board Ed Whitacre will be the interim CEO until a permanent replacement is found.
“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,” said the caretaker chief.
Fritz is the second CEO to walk out of GM’s door in 2009. The first was Rick Wagoner, who was forced out by President Barack Obama Administration’s Task Force for Autos. According to AP reports, the board was upset that GM’s turnaround wasn’t moving more swiftly and agreed that Henderson had to go.