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GM CEO Richard Wagoner to step down.

Drew Dowdell
in Industry News

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GM CEO Wagoner to Step Down

090305-rick-wagoner.jpg

DETROIT — The chairman and chief executive of General Motors, Rick Wagoner is resigning, just as President Obama prepares to unveil his rescue plans on Monday forG.M. and the ailing American auto industry, a person close to the decision said Sunday. Then unexpected move by Mr. Wagoner, who has been at the helm of G.M. for
eight years, was not confirmed by the company. But a statement about Mr. Wagoner’s future will be issued after the president’s address. (via New York Times)

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