New GM vice chairman and CFO named

Manufacturing News, Source : TheManufacturer.com
Published : 07 Dec 2005 20:04

Frederick “Fritz” Henderson, chairman of GM Europe and a GM group vice president, has been elected GM’s vice chairman and chief financial officer by the GM Board of Directors, effective next month.

Current Vice Chairman and CFO John Devine, whose five-year contract expires this month, will remain with the company for up to one year as vice chairman during the transition. He will also advise Chairman and CEO Rick Wagoner on implementing the GM North America turnaround plan and other issues.

Henderson has been in charge of GM Europe since June 2004, and previously was president of GM Asia Pacific from 2002 to 2004, and president of GM Latin America, Africa, and Mideast from 2000 to 2002. He also served as president and managing director of GM Brasil from 1997 to 2000.

"GM is fortunate to have a management team with deep bench strength," Wagoner said. "Fritz is the right person to take on the top finance responsibility at GM. Fritz has a tremendous background in finance and the auto business, having led all of GM's global regions outside North America."

Carl-Peter Forster, GM vice president and president of GME, will continue that effort and replace Henderson as a GM group vice president and president of GME. Forster worked closely with Henderson on the GME turnaround plan over the past two years.

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