Filed under: Hirings/Firings/Layoffs, GM, Earnings/Financials
While early rumors suggested that this morning’s surprise news conference at General Motors’ Renaissance Center might be to confirm the sale of Saab to Spyker, the big news emanating from the company’s Detroit headquarters is that Ed Whitacre Jr. is scrubbing ‘interim’ from his door plaque and instead taking the title of permanent CEO.
The 68 year-old Whitacre has been on the job since December 1, bringing his experience as a past CEO of AT&T to bear on the troubled automaker following the removal “stepping down” of GM’s CEO Fritz Henderson. Since he’s taken the reins, Whitacre has made bold timetable pronouncements about the company’s ability to begin repaying government loans following GM’s bankruptcy, he’s hired a new chief financial officer, consolidated the company’s North American sales and marketing channels, and fired several brand managers.
During the press conference, Whitacre also updated the assembled media on other aspects of The General’s business, including the Saab situation (still in talks with Spyker, no deal yet) as well as plans to pay back the U.S. and Canadian government loans by June. When asked, Whitacre admitted that while he plans to spend more time in Detroit, he does not plan to move out of his home in Texas.
Official GM press release available after the jump.
[Image: Bill Pugliano/Getty]
Continue reading BREAKING: Ed Whitacre named permanent CEO at GM, no Saab deal yet
BREAKING: Ed Whitacre named permanent CEO at GM, no Saab deal yet originally appeared on Autoblog on Mon, 25 Jan 2010 11:45:00 EST. Please see our terms for use of feeds.