fritz henderson


fritz henderson



Fritz Henderson has resigned after eight months of work, managers have concluded that they had done enough to determine the economic and culture of GM, people familiar with the board eipe.To question gave Henderson, 51, 100 Review yesterday for his performance since July 10 release of GM bankruptcy, said the people, who requested anonymity because the discussions were private. Several directors have also expressed the view that an alien was required to have a car, one person said.
Henderson’s exit caps a tenure that included aborted deals to sell the Saturn, Saab and Opel units, a struggle to replace top managers such as Chief Financial Officer Ray Young, and U.S. market-share losses. Chairman Ed Whitacre took over on an interim basis, giving the former AT&T Inc. CEO and chairman a chance to help pick a successor and put his stamp on GM.
The next person will be the board’s person,” said Michael Robinet, an analyst at CSM Worldwide Inc. in Northville, Michigan. “They will have interviewed and vetted the person.” The search for a new CEO “begins immediately,” Whitacre said in a statement released by GM after the board met yesterday in Detroit, where the automaker is based.
GM hadn’t started recruiting before that session, said one person briefed on the effort. The pace and scope of Henderson’s progress fell short of what the board wanted, said the people, who wouldn’t provide details. While the new directors have been on the job about 145 days since GM left Chapter 11, they referred to the evaluation as a 100-day review, the people said.

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