BREAKING: Edward Whitacre to continue on as GM CEO

Posted: Jan 25, 2010
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General Motors’ chairman Edward Whitacre announced today that he has taken the company board’s offer to stay on as Chief Executive Officer of the automaker. Whitacre said that GM will immediately call off the search for a new CEO.

“The board of directors asked if I would be willing to stay on at GM and help continue the company”s road back to success,” Whitacre said. “Having spent the past few months learning the business, meeting with our employees, customers and dealers, and working with the GM leadership team, I was both honored and pleased to accept this role. This is a great company with an even greater future, and I want to be part of it.”

Whitacre also said that the company is in good shape and remains committed to pay back in full the U.S. Treasury and the Canadian and Ontario government loans by June.

“We”ve made significant progress in the past couple of months, so much so that I can confirm with certainty that we will pay back in full the U.S. Treasury and Canadian and Ontario government loans by June,” Whitacre said. “This represents a significant milestone in our journey back to being a profitable and viable company.”

- By: Omar Rana


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  • GMfan87

    w00t! I can't wait to see what he does with the company. how many CEO's do you see eating burger king in a food court at the same table as employees?

    as for paying back the governments IN FULL, if that happens, I will be utterly amazed.

  • DadzBoyz

    Whitacre hires Whitacre. Now who didn't see that coming the day he was appointed by the government? Come on people.

    Seriously, if you didn't see that you were putting too much thought into this whole thing. Please report to the office. Your lobotomy didn't take.

  • Mogar

    So while every other upper-level employee is getting fired they're begging Whitacre to stick around. I do like what he's doing with GM. Although that SRX he's fondly stroking was a mild failure In my opinion.