General Motors CEO resigns

Struggling car manufacturer General Motors is facing more boardroom pressure after chief executive Fritz Henderson announced he is to resign from the company with immediate effect.

Vauxhall Astra

Henderson’s departure comes just a month after Carl-Peter Forster left his job as president of Opel/Vauxhall Europe and raises questions as to what GM will now do to boost interest in its individual marques.

Henderson, who has been CEO since February, replacing the ousted Rick Wagoner, played a fundamental role in helping GM accept a US government bailout and subsequently bringing the company back out of enforced bankruptcy. He has refreshed the company’s strategy axing a number of brands including Hummer.

In Europe, GM had previously attempted to sell off a majority holding in the Opel/Vauxhall marques before making a u-turn and deciding to keep hold of the brands.

Vauxhall/Opel are currently seeking a new leader and have placed former Vauxhall managing director Nick Reilly in charge of “overseeing the creation of a strategy to position Opel/Vauxhall for long-term success”.

The company is also trying to sell its Saab brand and says it has received “expressions of interest”. Potential bids will be evaluated by the end of December.

GM chairman Edward Whitacre will succeed Henderson on an interim basis while a search for a new president and CEO starts immediately.

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