Gm Bankruptcy Watch
Henderson sudden departure is not good for GM
Although General Motors has tried to convert its new chief executive officer, Fritz Henderson, left, resigned for your account, make no mistake – he was fired abruptly.
Chairman Ed Whitacre got out of his way to indicate this advice is a question as spokesman Chris Preuss, GM: It was run by a board decision – which is how it is implemented everywhere. "
It is clear that Henderson is not solely of their own volition.
However, this uncertainty at the top is the last thing the historical needs of the automotive manufacturer these days difficult. Henderson sucks sudden departure of a brutal decision not speak well for GM's board.
Many experts believe that the defeat was largely Henderson partly the result of a disagreement between the CEO of 51 years and 68 years of hands took the chair during the recent debacles Saab and Opel.
Note agreement Roger Penske Saturn is also reduced by a quarter of Henderson.
Whitacre, the former AT & T Chief Obama personally tabbed to oversee management the restructuring of GM, is known to have a quick trigger. He looked at the nature of Saturn, Opel and Saab failures as a condemnation of Henderson's ability to think globally and execute its strategic vision.
However, most of the consequences of Saturn, Saab and Opel, may be nothing more than an instinctive reaction to GM announces another thousands of millions of dollars each quarter embarrassing loss in the light of the excellent Ford announcement ended the quarter in the black.
After all, Henderson had been in charge for eight months and has been widely acclaimed as the man to lead the GM monolith ashes of the unprecedented bankruptcy. His surprise eviction everyone, including the Vice President and GM, Bob Lutz, the legend, who told Auto Salon in Los Angeles on Wednesday, "It is fair to say that totally surprised us. None of us had no indication that it was to come. "
From the White House distanced itself from the matter. The spokeswoman Amy Brundage made the following e-mailed statement. "This decision was taken by the board alone," he said. "The government has not participated in the decision."
However, with an investment of 50 million dollars in the American icon, it is difficult to imagine that the federal government were not part of the team that refers to when Whitacre said: "All participants agreed that changes should be done."
If there was an agreement, has become suddenly or more likely was the result of a subset of the GM board's administration and the Obama administration officials, who worked between racks to orchestrate the removal of Henderson.
However, GM will need more than luck to hire a more qualified successor, while in the saddle with the payment options and limited Whitacre opportunities and the federal government intended to interfere with the new leader of each movement.
Ultimately, he was fired or actually, Fritz Henderson, resigned on his own, never mind.
What matters is the future of GM and the sudden departure of Mr. Henderson is the last thing the troubled automaker needed now.
About the Author
Jeff Cook is president and co-founder of AutoBidsOnline.com – a new automotive research and online car buying web service.
With ten years direct automotive software development experience, Cook is known for his expertise in online software development and automotive leasing systems. He presently serves as Director on both the Texas State and National Boards of the National Vehicle Leasing Association.
Learn more about Cook and how to buy and sell cars online at Cook’s AutoBidsOnline Smart Shopper Blog.
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