Fritz Henderson is out as GM's CEO, just eight months after the government forced out his predecessor Rick Wagoner as the Obama administration (or, more accurately, taxpayers) became GM's majority shareholder in the wake of its bankruptcy.
Henderson, it was perceived at the time, would bring GM into a new era, representing at least a symbolic break from Wagoner's pre-bailout leadership. But after some divisions with GM's board, it didn't work out. At the Atlantic Wire, John Hudson reports mixed reactions from business journalists--some of whom see it as unfair, and some of whom think new blood is needed. Politically, it's important for the Obama administration that GM do reasonably well: taxpayers are going to want their money back, and the government will want to avoid the perception that things are being mismanaged.
At least we know how Henderson's daughter feels.
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