GM has reduced its chief executive and is ready to sale Saab

GM board announced about the resign of its chief executive Fritz Henderson

In brief: if there is no deal GM will have to quit Saab production

Yesterday General Motors corporation held board meeting in order to discuss the status of its Swedish car brand Saab. At this meeting GM board announced about the resign of its chief executive Fritz Henderson.

Temporarily he will be replaced on this position by GM’s chairman of the board Ed Whitacre Jr.

As far as Saab is concerned GM will decide the fate of this car producer depending on the propositions of its potential buyers. Three contracts to purchase Saab have already failed this year and now if there is no deal GM will have to quit Saab production. But such decision is to force Saab workers to strike.

The matter is that now the company suffers great losses. GM was recently ready to sell Opel and Vauxhall to Canadian car parts firm Magna but later changed this decision. Now Saab is under the threat of being sold.

Ukranian Globalist
2009-12-02 09:33, Society.

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