Whitacre Writes Goodbye Memo to Employees

As you already know, American manufacturer GM announced last week that its current CEO and chairman, Edward E. Whitacre Jr., will be leaving his positions starting September 1, to leave the carmaker in the hands of Dan Akerson (who will become both CEO and chairman), a man regarded as “what Wall Street wants” (GM will file for an initial public offering soon).

In light of his soon to be departure, Whitacre wrote a memo to his employees, saying he has been preparing for the moment when he will be stepping down since arriving to GM. From the end of the year onwards, Whitacre says he will only be a spectator.

“I have been preparing for this day ever since I came to General Motors. It was never the plan for me to be the long-term CEO and Chairman, which the Board knew and understood,” the CEO says in the memo cited by Freep.

“I have enjoyed my time as CEO of GM more than I can say, and I am pleased to stay on as Chairman through the end of the year. I am excited about this company and I want you to know that it is the people of GM who make this a very special place. You are the best, and I truly appreciate all you do.”

“Thank you for the privilege of leading this great company. I am anxious to see the new heights that you will achieve as you continue focusing on designing, building and selling the world’s best vehicles.”