Fritz Henderson named new GM President
Frederick "Fritz" Henderson has been named the new President of General Motors. Prior to his new role, he was vice chairman and chief financial officer for the General. And as such, he helped negotiate the recent ground-breaking contract with the UAW, engineered the sale of a 51 percent stake in GM's finance arm to Cerberus and was one of the architects of the corporation's historic $39 billion write-down.
It is believed that when CEO Richard Wagoner steps down, that Henderson will be the person to be selcted to fill his shoes...
Here's
Inside Line's take:
GM Names Henderson Its New PresidentHere's
my take: "Fritz" sounds more presidential than "Fred."
- Permalink | Comments (2)
- Posted by: Bob Holland March 6, 2008, 5:00 AM
- Categories: Auto Industry, General Motors
He's still pretty young too (relatively) at 49 years old. I was surprised to see him take over COO duties. I wrote a paper on how it can be beneficial to put an operations guy in the CFO position, but I never thought about doing it the other way around.
General Motors has a reputation of making a young man old. I hope this isn't the case with Mr. Henderson. What GM needs is a corporate culture that reflects the creativity and innovation of some of the high tech firms. I hope Fritz can develope vehicles that are sought after and just not affordable. The General Motors corporate heirarchy could use alot of under 35 men and women in product development. That will be the major factor whether they survive or not.
Danny L. McDaniel
Lafayette, Indiana