December 1, 2009, - 4:35 pm
Well, he didn’t last long. Within minutes from the time I write this, General Motors CEO Fritz Henderson will announce his resignation. He barely lasted nine months. So much for getting the unions to force the other guy, Rick Waggoner, out.
And so much for the government takeover. GM recently announced disastrous sales numbers. And Henderson didn’t help stem the tide of the bad times.
So, what do you make of this . . . other than that a government takeover and pandering to unions doesn’t work? Is it a case of hatcheting the hatchet man? The guy is supposed to be the keynote speaker at the L.A. Auto Show–a huge show of great importance–tomorrow morning. I guess that’s out. I question the timing, given that.
I hope GM ultimately succeeds, but I don’t think that’ll happen, except in a much smaller version. Read what I wrote over a year ago on the occasion of GM’s 100th birthday: Will GM (or Ford or Chrysler) Have Another 100 Years?
The new interim CEO: Ed Whittaker.
Tags: Fritz Henderson, Fritz Henderson resigns, General Motors, GM, Government Motors, resignation