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  • GM Appoints Ed Whitacre As Automaker's Permanent CEO

GM Appoints Ed Whitacre As Automaker's Permanent CEO

Rory Jurnecka
Jan 25, 2010
General Motors announced this morning that Ed Whitacre has been appointed the automaker's permanent CEO. Whitacre has been serving as acting CEO since early December, following the departure of previous GM chief Fritz Henderson. Whitacre said he would continue in the position "for now," that length of time defined only as how long it will take to get GM back in fighting shape.
"The board of directors asked if I would be willing to stay on at GM and help continue the company's road back to success," Whitacre said. "Having spent the past few months learning the business, meeting with our employees, customers and dealers, and working with the GM leadership team, I was both honored and pleased to accept this role. This is a great company with an even greater future and I want to be part of it."
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Whitacre said that a search for a new GM CEO was conducted outside the company as well, but ultimately the board elected to offer the position to him.
Whitacre kept a tight focus on the morning's conference, but did add that GM will pay back all of its U.S. Treasury, Canadian, and Ontario government loans in full by June. Whitacre also touched on the Saab proceedings, noting that nothing has changed regarding a wind-down of the automaker. The CEO did confirm that talks are still ongoing, however.
"There have been talks with Spyker, but we do not have a deal this morning," Whitacre said.
Source: General Motors
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