Detroit, Michigan – Edward Whitacre, Jr. will step down as chief executive officer of General Motors on September 1, 2010, to be replaced by Dan Akerson. Akerson, 61, has served on the GM board of directors since July 2009.
Whitacre will also step down as chairman of the board by the end of the year, a position Akerson will take up at that time.
GM said that Whitacre had successfully led the company’s return to profitability after the most turbulent period in its history. Yesterday, GM reported its second consecutive quarter of profits after a string of losses dating back to 2007.
“My goal in coming to General Motors was to help restore profitability, build a strong market position, and position this iconic company for success,” Whitacre said. “We are clearly on that path. A strong foundation is in place and I am comfortable with the timing of my decision.”
Prior to joining GM, Akerson was managing director at the Carlyle Group, and chairman and CEO of XO Communications, Nextel Communications, and General Instrument Corp.