Rick Wagoner leaves GM at Obama’s request
By Andrew C., 26 Aug, 2010. 0 Comments
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It was recently reported that the chief executive officer and chairman of GM, Rick Wagoner, has resigned and has been replaced by Fritz Henderson, who was the company's president and chief operating officer previously. The carmaker has already received almost $14 billion from the Federal government to assist it through the global recession that has hit the auto industry the hardest. The Obama administration requested Wagoner to stand aside as a pre-requisite to additional funding from the government. Wagoner was present at a meeting in Washington when he was requested to stand aside as CEO of General Motors, to which request he immediately complied.
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