Official: GM will have a New CEO

Ed Whitacre, chairman of GM, resigned immediately after saying profit of 1.3 billion dollars made by GM in the last three months. It will be replaced starting Sept. 1 by Daniel Akerson.

Ed Whitacre worked as group president of GM since January 2010. Switch is part of the White House and the GM group company to list on the exchange, but also to attract new investors. A source inside the company suggested that this decision is the result of pressure from the White House.

Whitacre's change has been discussed in recent weeks and will be completed on September 1. It will be replaced by Daniel Akerson, an experienced manager, but no experience in car. Akerson is a member of the Administrative Committee since July 2009, along with GM received from the government. Akerson is known for his aggressive management.

Profit of 1.3 billion GM posted in the last three months indicate increased confidence in U.S. models. General Motors plans in the near future to list the company on the stock exchange as the U.S. government could recover part of money invested in the 61 percent of the company. It plans to sell shares worth over 10 billion dollars.

Category:

• Auto Innovation

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