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Tex Takes The Job! Whitacre Names Self As GM CEO

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On: Tue, Jan 26, 2010 at 1:25PM | By: John Welch

Tex Takes The Job! Whitacre Names Self As GM CEO

So, big news conference from GM yesterday. Tex Whitacre Jr. is the official CEO. Ohkay, not really news, but we'll take it . . .

Whitacre deferred to the GM board on his status, saying the permanent CEO role was offered to him at a special board meeting last week. He clearly sees himself as GM's public face, not only announcing the decision himself but also using today's brief press conference to disclose other business items. Among them: strengthening a pledge to pay back, by June, roughly $8 billion in U.S. and Canadian government loans and reiterating plans to go public as soon as late this year.

Whitacre also said he has not decided how long he'll remain chairman and CEO. “I'm going to do it for a while,” he said in his address. During questioning, he said he plans to keep both titles as long as he is at GM rather than handing one to a successor. Good thinkin'.

So, now, officially, all three American Auto-Giants are run by executives who have no history in the automotive industry, or, in the case of Segio Marchionne, are just plain Italian. Third CEO in a year GM; let's see how this one pans out . . .


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