Fritz Henderson, the CEO of GM, and the man who replaced Rick Wagoner, is stepping down.
CNBC’s Phil Lebeau just broke the news. The announcement will be made official at a press conference in 10 minutes.
No word yet on who will replace him.
In the past, GM (like many other bailed-out companies under constant supervision) has complained that regulations and pay caps have prevented it from hiring suitable executives.
The AP reports that Ed Whitacre, the company’s current chairman, will take over on an interim basis.
More to come.