Fritz Henderson Gets The Big “YOU’RE FIRED!”

The General Motors CEO, Fritz Henderson has stepped down from the main-main position at the company. Henderson was then replaced by GM chairman, Ed Whitacre until the company can find a suitable replacement.

Reports have different stories as to why Fritz stepped down, and one says that the ex-CEO failed his board-mandated performance review.

The past few months saw GM loose the Penkse deal, back out of the Opel sale and then lost the Koenigsegg-Saab transfer. During all of these mishaps, Whitacre was apparently questioning Fritz’s desire to quickly issue and IPO for GM’s common stock.

Ed Whitacre is currently looking for someone to replace Fritz in the hot seat, while Bob Lutz is busy delivering the speech at the LA Auto Show.

GM said that the ‘ousting’ of Fritz Henderson was a board decision, and Mr Obama alongside his administration had nothing to do with this.

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