Ed Whitacre, General Motor's chairman of the board will serve as the interim replacement for Frederick Henderson, "Fritz," the company's CEO who just resigned after 8 months, according to the AP. The 51-year-old Henderson took the post at the world's largest automaker March 29 of this year, after Rick Wagoner was ousted by the Obama administration. The company filed Chapter 11 under Henderson in June, and things haven't gotten much better since. With some help from the government-led reorganization, the company was only under the court's protection for 40 days.
But, since then, plans to sell brands Saturn and Saab fell through, hurting the company's plan to downsize. Sources say GM plans to conduct an international search for the new president and chief executive.
