BREAKING: Fritz Henderson Resigns

It has been a whirlwind of news today! The automotive world is alight with comments about the resignation of General Motors' Chief Executive Officer, Fritz Henderson. This follows the push out of former CEO Rick Wagoner, who Fritz Henderson replaced.

Twitter has proved to be place to get the latest thoughts and reaction from the public. Be sure to follow us on Twitter for the quickest news updates  - we've been on there a lot today keeping up with all the happenings.

On a GM conference call today, it was abruptly announced that Fritz Henderson would be resigning his position at GM. Ed Whitacre of recent AT&T fame and current Chairman of the GM Board, made the announcement.

He also will be taking over the position as interim CEO until a replacement can be found. The search for a new one could be quite lengthy, and I would imagine that the new pay rules/salary caps might make the task a bit difficult. Put it this way: who wants to leave a high-paid position where you get millions at another company to work at GM? Didn't think there'd be too many takers - we'll see how it goes.

The GM Board supposedly asked for his resignation as they are "changing directions." It is a very odd development, especially before a major autoshow like Los Angeles. New products like the 2011 Chevrolet Cruze and 2011 Cadillac CTS Coupe are being introduced, and yet the storyline out of this major show will be the resignation, as we commented on Twitter.

Sound like a PR nightmare? It gets better: Fritz Henderson's daughter posted a message on the GM Facebook page laced with profanity, declaring that Henderson was pushed out, Ed Whitacre is selfish and her intention is to never buy from the company again. OK, let's talk about this month's sales figures....