GM CEO Rick Wagoner to resign - Mar. 29, 2009
Effective immediately, Rick Wagoner will step down as CEO of General Motors. While I'd like to say something nice about him, I can't. In the nearly 11 years that he has been their Chief Executive officer, GM's share in the North American market has been nearly halved, the company's stock has fallen 98-percent, they lost their lead of both the nation's and world's largest automaker to Toyota, and ruined the company's reputation for innovation by relying too much on their SUV's and forgoing truly innovative concepts like the EV1 program.
COO Fritz Henderson is expected to be named as the interim CEO, and one can only hope that they get a Alan Mulally caliber leader to turn this ship around...if it can even be turned around.