Dan Akerson, 61, who previously worked as GM board of directors since July 2009, will step in and take control of the CEO position on September 1 and of the chairman role by the end of the year.
“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.”
General Motors yesterday announced its second consecutive quarter of profits, with a net income of $1.3 billion and EPS of $2.55.
“Ed Whitacre was exactly what this company needed, at exactly the right time,” said Pat Russo, lead director on the GM board. “He simplified the organization, reshaped the company’s vision, put the right people in place, and brought renewed energy and optimism to GM.”
Akerson will thus become responsible for GM's evolution in the next years, with a clear goal to continue the so-called path to success already started by the former bankrupt Detroit automaker.
“There are remarkable opportunities ahead for the new GM, and I am honored to lead the company through this next chapter,” said Akerson. “Ed Whitacre established a foundation upon which we will continue building a great automobile company.”
Google News