Whitacre to keep CEO role at GM
Tuesday 26 January 2010
"This place needs some stability," the General Motors boss Ed Whitacre declared yesterday. "I guess that's me."
The bailed-out car company's chairman, who has been acting as interim chief executive since sacking Fritz Henderson in December, said that he will be keeping the chief executive role on a permanent basis.
The eight-week search for a successor ended last week with a board meeting that decided the telecoms industry veteran would be a better candidate than anyone else, as GM seeks to return itself to health and pay back tens of billions of dollars in government aid by June this year. The company, whose brands include Chevrolet and Vauxhall, is controlled by the US government, after having gone bankrupt last year.
Mr Whitacre is the first chief executive in GM's history not to come from the car industry, and has moved quickly to shake up what he believes are complacent management practices at the company's troubled North American operations.
The board decided a period of stability was preferable, having seen the departure of two chief executives in 2009, and the Texan executive is expected to stay in the job for about two years.
- 4 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
- 5 A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Michelle Obama highlights harsh restrictions faced by Saudi women after meeting King Salman without wearing a headscarf
Amal Clooney gives excellent response to fashion question at European Court of Human Rights
Isis publicly behead man in Syrian town square for 'insulting Allah' as he screams for help
One spelling error costs Companies House up to £9 million after being sued for ruining business
9 reasons Greece's experiment with the radical left is doomed to failure
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
iJobs Money & Business
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...
Competitive salary & benefits!: MBDA UK Ltd: MBDA UK LTD Indirect Procurement...