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GM CEO Whitacre Steps Down in September!

Board member Dan Akerson takes over; Government appointed Whitacre remains as Chairman of Board until year end.

by on Aug.12, 2010

Another outsider takes over as General Motors CEO.

It was always his intent to move on the moment General Motors Company was back on its feet,  GM CEO Ed Whitacre, 68, said today at the close of a press conference discussing second quarter results. So with GM’s second straight quarterly profit just announced,  Whitacre will resign as CEO of the U.S.’s largest automaker, effective September first.

Taking Whitacre’s place is board member Dan Akerson, 61, who joined last year as GM was emerging from bankruptcy in July.

Whitacre will stay on as Chairman of the Board until year end, at which time Akerson will also assume that post.

“My goal in coming to General Motors was to help restore profitability, build a strong market position, and position this iconic company for success,” said Whitacre. “We are clearly on that path.  A strong foundation is in place and I am comfortable with the timing of my decision.”