GM CEO Ed Whitacre to step down on September 1
General Motors' CEO Ed Whitacre is stepping down from his post from September 1 and will be replaced by Dan Akerson, a member of the GM board who joined in July 2009.
GENERAL MOTORS' CEO Ed Whitacre is stepping down from his post from September 1 and will be replaced by Daniel Akerson, a member of the GM board who joined in July 2009. General Motors reported today the net profits of $1.3bn for second-quarter and revenue for the second quarter of 2010 was $33.2 billion.
GM's current CEO Ed Whitacre took over the charge from Frederic Henderson, who helped General Motors through the bankruptcy process on December 1, 2009. Whitacre, 68, was the chairman and CEO of AT&T from 1990 until 2007 before joining GM.
The newly appointed CEO of General Motors, Daniel Akerson, a GM board member, is the managing director and head of global buyout firm Carlyle Group. Daniel Akerson has previously served at several major companies, General Instrument, MCI, Nextel and XO Communications etc. at the decision making position.
General Motors, the No. 1 automaker in terms of U.S. sales, is 61% owned by the U.S. government. The automaker is preparing a stock offering, expected to be the largest ever for the U.S. market, in 2011. GM will generate $16 billion in earnings before interest, taxes, depreciation and amortization for 2011.
The newly appointed CEO of General Motors, Daniel Akerson, a GM board member, is the managing director and head of global buyout firm Carlyle Group. Daniel Akerson has previously served at several major companies, General Instrument, MCI, Nextel and XO Communications etc. at the decision making position.
General Motors, the No. 1 automaker in terms of U.S. sales, is 61% owned by the U.S. government. The automaker is preparing a stock offering, expected to be the largest ever for the U.S. market, in 2011. GM will generate $16 billion in earnings before interest, taxes, depreciation and amortization for 2011.
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