(December 2, 2009) The General Motors board and CEO Fritz Henderson parted ways Tuesday, the board upset that the automaker's turnaround wasn't moving more swiftly and Henderson frustrated with second-guessing, two people close to the former CEO said.
Board Chairman Ed Whitacre Jr., the former head of AT&T Inc., will take over as CEO while a global search is conducted.
It was becoming clearer today that Henderson did not make the first move, but was asked to step down. The surprise resignation, which came just hours before Henderson was to be the high-profile keynote speaker at the Los Angeles Auto Show. At a hastily called news conference at General Motors Co.'s downtown Detroit headquarters, Whitacre would not answer questions, but said the board and Henderson agreed that he should step down.