General Motors - White House forces GM's Wagoner out

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White House forces GM's Wagoner out

Monday, March 30, 2009
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Rick Wagoner's reign of terror at General Motors is finally over. The government asked for his resignation on Friday, doubting his ability to save the ailing company... Wagoner agreed to leave. Chief Operating Office Fritz Henderson is taking over as CEO, and director Kent Kresa will replace Wagoner as chairman.

The past four years under Wagoner's command, GM lost $82 billion and yielded its title as world's top-selling carmaker to Japanese rival Toyota.

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Topics:		General Motors \| Boondoggle

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