Henderson Said to Get 60% Odds From Car Task Force on Fixing GM
September 9, 2009
“He’ll give them leeway,” said Kent Hance, a friend and one-time classmate of Whitacre’s who is now chancellor of Texas Tech University in Lubbock, where the engineering school bears Whitacre’s name. “But they’ll need to show what they’re doing.”
Written by: Jessica Behnham
Sept. 8 (Bloomberg) -- General Motors Co.’s board was told by the Treasury’s auto task force that Chief Executive Officer Fritz Henderson has about a 60 percent chance of fixing the automaker, a person familiar with the
briefing said.
Advisers to the federal panel offered that assessment at an Aug. 3 meeting that was closed to management, said the person, who asked not to be identified because the session was private. The aides said the board could improve the odds by being engaged with Henderson and hiring outside executives to help him change GM’s mind-set, according to the person.