General Motors CEO Fritz Henderson quits

Henderson had taken over from former CEO Rick Wagoner in March, after Wagoner was forced to quit by Barack Obama’s administration. However, Henderson announced his resignation as Director, President and CEO of GM on Tuesday, with GM Chairman Ed Whitacre to fill the post on an interim basis while a replacement is found.

"Fritz has done a remarkable job in leading the company through an unprecedented period of challenge and change," said Whitacre in a statement. "While momentum has been building over the past several months, all involved agree that changes needed to be made."

"I want to assure all of our employees, dealers, suppliers, union partners and most of all, our customers, that GM's daily business operations will continue as normal. I remain more convinced than ever that our company is on the right path and that we will continue to be a leader in offering the worldwide buying public the highest quality, highest value cars and trucks. We now need to accelerate our progress towards that goal, which will also mean a return to profitability and repaying the American and Canadian tax payers as soon as possible," Whitacre concluded.