Newsmaker / Gm Head Wagoner to Resign

The Commercial Appeal (2007-Current) › March 30, 2009

Linked as:

Summary

DETROIT - General Motors Corp. Chairman and CEO Rick Wagoner will step down immediately at the request of the White House, administration officials said Sunday. The news comes as President Barack Obama prepares to unveil additional restructuring efforts today designed to save the domestic auto industry.

The officials asked not to be identified because details of the restructuring plan have not yet been made public. Obama is to announce plans today to restructure GM and Chrysler LLC in exchange for additional government loans. The companies have been living on $17.4 billion in government aid and have requested $21.6 billion more.

See the full content of this document

Extract

Newsmaker / Gm Head Wagoner to Resign

Wagoner, 56, joined the company in 1977, serving in several capacities in the U.S., Brazil and Europe. He has been chairman...

See the full content of this document