At $GM, Cups Of STFU and GTFO

December 2nd, 2009 by alyx · 2 Comments · bitchfights

fritz-henderson-buhbye

Now here was one guy I surprisingly did not have a pre-made “TEH BOOT” graphic for, so he gets this, instead. Fritz Henderson yesterday resigned from GM, leaving a tall Texan dude named Big Ed to take over in the interim:

General Motors Co. Chairman Ed Whitacre said he was in a hurry. When he took over the chief executive officer job from Fritz Henderson yesterday, he showed just how urgent he is to fix the automaker.

Whitacre, 68, who as chief of AT&T Inc. assembled the world’s largest telecom company, accepted Henderson’s resignation at a board meeting in Detroit. Whitacre, appointed by the Obama Administration’s automotive task force in July, will assume daily executive duties until a permanent replacement is found, he said at a press conference.

Whitacre and Henderson have sparred in the past, most notably in regards to selling Opel (Whitacre wanted to dump it on Russia, Henderson not so much), and also on when would be the best time to issue more stock and make an attempt to repay some of that bailout scratch.

It’s probably fitting to have a Texan in charge of a company that makes Cadillacs, but Whitacre isn’t interested in wearing both the chairman and CEO hats forevs, and says he’s looking. So add “CEO of GM” to the list of open yet not-so-coveted jobs, probably right above “CEO of Bank of America” in the sexiness factor:

The search for a new CEO “begins immediately,” Whitacre said in a statement released by GM after yesterday’s board meeting. The Detroit-based company had not started a CEO search prior to yesterday’s meeting, said one person briefed on the effort. Whitacre didn’t return calls for comment.

“GM needs bold,” said an executive recruiter who follows the auto industry. “It needs someone like Alan Mulally, who said, ‘We’re focusing on the Blue Oval and the heck with all that other stuff.’”

In other words, a marketing guy. (Or gal. Hey, I should send my resume in.) Ford, of course, had the Blue Oval, but GM’s logo is less distinct. Though we like the idea of focusing on the little bar under the GM letters, because we think this is the kind of job where you’ll be wanting to spend a lot of time drinking.

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