GM wants to develop an internal replacement for CEO Ed Whitacre

Article by Christian A., on August 27, 2010

There's speculation that General Motors Corp. will develop an internal replacement for CEO Ed Whitacre, most likely in a couple of years, according to two sources.

Last week, Whitacre had announced that the GM board had removed "interim" from his title. Sources say that the quest to find a new CEO from outside the company had failed to find a fitting candidate agreeable to taking the job. 

It's also believed that any top-level executive has a shot at the job, including those running GM's overseas operations.

Even as Whitacre said that GM's corporate culture is fine, it's apparent from his stance on his successor that he's looking for improvement.

Sources say that Whitacre and the board want the winning candidate to come from a new corporate culture based on decision-making and accountability.

GM executives have found that there was something lacking with the atmosphere at GM. In an interview last December, Vice Chairman Tom Stephens said, "We make more decisions walking to the meetings than we used to make at the meetings."

Sources share that the internal CEO field is open but that if a winner doesn't emerge, the board will commission a new search for an outside candidate.

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Topics: gm, ceo, united states

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