DETROIT - Edward Whitacre, Jr., has agreed to continue as chairman and CEO of General Motors, the automaker announced Jan. 25.
While Whitacre has been leading the company since the departure of former President and CEO Fritz Henderson on Dec. 1, 2009, the recent announcement marks his official appointment as GM's head.
"The board of directors asked if I would be willing to stay on at GM and help continue the company's road back to success," Whitacre said at a press conference. "Having spent the past few months learning the business, meeting with our employees, customers, suppliers and dealers, and working with the GM leadership team, I was both honored and pleased to accept this role. This is a great company with an even greater future, and I want to be part of it."
With full confidence and certainty, Whitacre also confirmed that the automaker "will pay back in full the U.S. Treasury and Canadian and Ontario government loans by June."