Finance and Economic

General Motors Co’s chief executive, Fritz Henderson, abruptly resigned on Tuesday, after the company’s board decided it wanted to chart a new course for the restructuring automaker.

Henderson was asked by the board to step down at a meeting in Detroit after being on the job for just eight months, according to a person with direct knowledge of the matter.

GM Chairman Ed Whitacre, 68, will become interim chief executive as the automaker begins an immediate search for a replacement, the company said.

The announcement of Henderson’s sudden departure underscored the tough oversight being exerted by a slate of new GM directors led by Whitacre and selected by the automaker’s majority shareholder, the U.S. Treasury.

Henderson, 51, became CEO in March after his predecessor, Rick Wagoner, was forced out by the Obama administration as part of the U.S. government-funded restructuring of GM.

“The board decided — and Fritz agreed — that given where we are, it was time to make some changes,” GM spokesman Chris Preuss said at a hastily arranged news conference.

Whitacre, a former AT&T chief executive, became chairman of GM in July as part of a new board vetted by the U.S. Treasury and intended to safeguard the government’s $50 billion investment in the automaker.

The U.S. government has a majority stake in GM, but the Obama administration has repeatedly said that it is leaving oversight of the company to Whitacre and the board.

“This decision was made by the board of directors alone. The administration was not involved in the decision,” a White House spokeswoman said.

WHO’S NEXT?

Whitacre, who became the public face of GM in its first ad campaign after bankruptcy, appeared briefly before reporters at GM’s headquarters in Detroit but did not take questions on why the board had chosen to part ways with Henderson.

Whitacre said Henderson, who helped GM through its July bankruptcy, had “done a remarkable job in leading the company through an unprecedented period of challenge and change.”

“While momentum has been building over the past several months, all involved agree that changes needed to be made,” Whitacre said.

Whitacre, a plain-spoken Texan who said he knew nothing about the auto industry when he became GM chairman, has surprised GM insiders by making unannounced plant visits and putting blunt questions to workers at all levels.

With his move to become GM’s interim CEO, all three U.S. automakers are now headed by outsiders to Detroit. 

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