Things seem to be very hard for General Motors. A combination of bad administration and the economical crisis made GM to start sinking fast. After dropping the Saturn brand (more likely killing it) the Saab subject seemed to be just another problem on the General Motors agenda. It seems that the men leading the company have their limits. General Motors CEO, mister Fritz Henderson, has announced his resignation from all the positions he held in the company, including CEO, Director and President. Ed Whitacre, aged 68, will take over General Motors on interim basis, while a search for a new president and CEO commence. This comes only a few months after Rick Wagoner, the former CEO of General Motors , was “forced” to resign by the Obama administration. Fritz Henderson has been in charge of General Motors since March this year.

Ed Whitacre, interim chief of General Motors , has stated that ``Fritz has done a remarkable job in the leading of the company through an unprecedented period of challenge and change``. He continued by saying that ``While momentum has been building over the past several months, all involved agree that changes needed to be made``.

Ed Whitacre concluded that ``I want to assure all of our employees, dealers, suppliers, union partners and most of all, our customers, that GM`s daily business operations will continue as normal. I remain more than convinced than ever that our company is on the right path and that we will continue to be a leader in offering the worldwide buying public the highest quality, highest value cars and trucks. We now need to accelerate our progress towards that goal, which will also mean a return to profitability and repaying the American and Canadian tax payers as soon as possible``.

This is quite a surprising decision and things seem to be getting worse by the minute for General Motors. I am hoping for the sake of the entire world that a giant automaker like General Motors will not disappear from the auto industry.