Late yesterday, in a surprise move, General Motors President and CEO Frederick "Fritz" Henderson (left) resigned, less than a day before he was to deliver the keynote speech at the
2009 LA Auto Show. Henderson was elevated to the president and CEO post after the government injected $60 billion into GM and asked the former president, Rick Wagoner, to step down, he had been in the job for only 9 months.
Fritz had been with GM since 1984. He served several senior posts, with responsibility for various global regions. However, this year he faced daunting challenges of managing the giant corporation through bankruptcy proceedings, playing to both the government overseers and consumers. During that time, GM changed dramatically. He was reportedl asked to resign by Ed Whitacre (right), who became chairman of the board of directors of New GM in June. (Read "
CEO Fritz resigns as GM considers Saab's fate." Also see a
Wall St. Journal report on the resignation.)
To take measure of how GM fared under Fritz's tutelage, we pulled together a few corporate metrics. It is interesting that despite cutting four divisions,
sales are trending upward, with a slight two-percent dip for November, compared year to year.
| | Pre-bankruptcy, Old GM | Today, New GM |
| Monthly sales | 155,334 - March 2009 | 176,632 – Oct 2009 |
| Models | 48 | 34 |
| Government bailout money | $11 billion | $60 billion (total) |
| Dealerships | 6,000 approx. | 3,600 approx. |
| U.S. Brands | 8 | 4 |
There are many ways to measure how far the "new" GM has come. However, the full story is yet to unfold as the company introduces new models, such as the Buick Regal,
Cadillac CTS coupe, and
Chevrolet Cruze.
Do you think the "new" GM is on the right track?
—
Eric Evarts
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