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Fritz Henderson

Henderson quits GM after 8 months

Wed, 12/02/2009 - 11:28 by Ishita Sood

Detroit, December 2 -- General Motors CEO, Fritz Henderson, resigned unexpectedly Tuesday after serving the nation’s largest automaker for eight months, the shortest service at GM since 1912.

GM says it will keep Opel

Wed, 11/04/2009 - 11:00 by shalini.bahadur

Detroit -- U.S. automaker GM Co. said Tuesday business is looking up so it's not going to sell its Opel division.

GM said on its Web Site that its board of directors has decided to initiate a major makeover of its European operations.

"GM will soon present its restructuring plan to Germany and other governments and hopes for its favorable consideration," GM Chief Executive Officer Fritz Henderson said.

GM had been negotiating to sell its German brand, Opel, and British unit, Vauxhill, to Canadian auto parts maker Magna International and Russian lender Sberbank.

GM's head of U.S. sales leaving

Thu, 10/08/2009 - 00:45 by surajdogra

Detroit -- General Motors Co. said its head of U.S. sales, Mark LaNeve, would leave the company as part of a long-term shake up following its bankruptcy proceeding.

In a conference call, Chief Executive Officer Fritz Henderson ended suspicion that Chief Financial Officer Ray Young would be the next to leave, The New York Times reported Wednesday.

"There's a lot of rumors," Henderson said. "Ray is our CFO."

Henderson said GM would attempt to issue a stock offering next year that would help the company slide out from under the government's thumb. After providing GM with $50 billion in taxpayer funds, GM emerged from bankruptcy 60 percent owned by the federal government.

"There's an awful lot of work under way to prepare for it," Henderson said.

GM to flatten out top management

Sun, 07/12/2009 - 12:22 by preet_20

Detroit, July 12: General Motors Corp. promises the slimming down process, as it tries to recover its position in the U.S. auto industry, will include its top management.

"It's a very painful process," Chief Executive Officer Fritz Henderson told The New York Times. "We don't have a lot of bad executives. We just have too many of them."

Henderson said in an interview Friday 400 of the 1,300 top executive jobs will be cut through resignation or retirement.

In recent years, thousands of GM hourly workers, foremen and office workers have been laid off and plants have closed. But executive ranks at the top were not affected.