BREAKING: GM CEO Ed Whitacre To Step Down September 1st

General Motors CEO Ed Whitacre will step down as CEO on September 1st, with GM board member Dan Akerson replacing him. Whitacre will remain with GM as chairman until 2011, at which point Akerson will assume that role as well.

“My goal in coming to General Motors was to help restore profitability, build a strong market position, and position this iconic company for success,” said Whitacre. “We are clearly on that path. A strong foundation is in place and I am comfortable with the timing of my decision.”
Hit the jump to read the official press release
DETROIT – General Motors today said that Edward E. Whitacre, Jr. will step down as chief executive officer on September 1, 2010, and as chairman of the board by the end of the year, having successfully led the company’s return to profitability after the most turbulent period in its history.
Earlier today, GM reported its second consecutive quarter of profits after a string of losses dating back to 2007.
Dan Akerson, 61, who has served on the GM board of directors since July 2009, will become CEO on September 1 and chairman by the end of the year, ensuring a smooth transition and continued positive momentum for company.
“My goal in coming to General Motors was to help restore profitability, build a strong ... article @ http://www.autoguide.com/auto-news/2010/08/breaking-gm-ceo-ed-whitacre-to-step-down-september-1st.html
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