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GM CEO steps down

 

The CEO of General Motors, Fritz Henderson, stepped down on Friday after just eight months in the job

Henderson is replaced by recently-appointed GM chairman Ed Whitacre in the interim.

Reports suggest he made the move aftre failing his performance review, but things didn't look good for Henderson after the recent collapse of deals to sell Opel/Vauxhall, Saab and Saturn.

Whitacre will now search for a new CEO and President to replace Henderson, who was tipped to replace former CEO Rick Wagoner.

The ousting of Henderson was a "board-led decision," according to Chris Preuss, a GM Spokesman.


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