General Motors Appoints Frederick “Fritz” Henderson As CEO

Rick Wagoner's chair has barely cooled, but General Motors has already named current GM president and Chief Operating Officer Frederick "Fritz" Henderson as its new CEO.

Henderson will take over the helm of the troubled company from March 31 onward, with the 50 year-old GM veteran the first of a number of new executive appointments.

Kent Kresa has also been named interim non-executive Chairman of the Board of Directors, and had this to say about GM's corporate restructuring:

“The Board has recognised for some time that the Company’s restructuring will likely cause a significant change in the stockholders of the Company and create the need for new directors with additional skills and experience.”

“The Board intends to work to nominate a slate of directors for the next annual meeting that will include a majority of new directors.”

Outgoing CEO Rick Wagoner was also positive about Henderson's appointment, and expressed his approval in an internal company memo.

“Fritz Henderson is an excellent choice to be the next CEO of GM," Wagoner said.

"Having worked closely with Fritz for many years, I know that he is the ideal person to lead the company through the completion of our restructuring efforts.

“His knowledge of the global industry and the company are exceptional, and he has the intellect, energy, and support among GM’ers worldwide to succeed.”

“GM is a great company with a storied history. Ignore the doubters because I know it is also a company with a great future.”

A prophetic announcement, or famous last words? Time will tell.