Frederick Henderson
Encyclopedia
Frederick Arthur "Fritz" Henderson (born November 29, 1958) was President and Chief Executive Officer
of General Motors
. Prior to his appointment as CEO on March 31, 2009, Henderson was the Vice President of General Motors and has been with the company since 1984. Frederick Henderson resigned as the CEO of General Motors on December 1, 2009.
He replaced Rick Wagoner
as CEO of GM when Wagoner stepped down at the request of President Barack Obama
in relation to the General Motors Chapter 11 reorganization
after serving in that position for eight years. Henderson assumed the new position on March 31, 2009. Regarding the appointment, Wagoner said: “Having worked closely with Fritz for many years, I know that he is the ideal person to lead the company through the completion of our restructuring efforts. His knowledge of the global industry and the company are exceptional, and he has the intellect, energy, and support among GM’ers worldwide to succeed.” Henderson announced that “over the next 60 days, we will work around the clock, with all parties, to meet the aggressive requirements that have been set by the Task Force, and to make the fundamental and lasting changes necessary to reinvent GM for the long-term.”
. Henderson is a 1976 graduate of Lake Orion High School
in Lake Orion, Michigan
. He holds a Bachelor of Business Administration
degree from the University of Michigan
's Ross School of Business
and a Master of Business Administration
degree from Harvard Business School
. During his time at Michigan, Henderson pitched for the University of Michigan Wolverines baseball team.
Since joining General Motors
in 1984, he held a number of positions with the company until 1992 when he became GMAC group vice president of finance in Detroit.
From 1997 to 2000, Henderson became GM vice president and managing director of GM do Brasil covering GM operations in Brazil
, Argentina
, Paraguay
, and Uruguay
. Here he was successful in introducing small, inexpensive cars such as the Celta subcompact
and the Meriva microvan
, both produced in Brazil.
In June 2000, he was appointed group vice president and president of GM-LAAM (Latin America
, Africa
and Middle East
) and in January 2002, he moved to Singapore
as president of GM Asia Pacific where he was successful in expanding operations in Korea
and China
.
In 2004, Henderson was appointed chairman of GM Europe, based in Zurich
, Switzerland
, where he undertook substantial restructuring including significant reductions in jobs.
After becoming vice chairman and chief financial officer in January 2006, in March 2009, he became GM president and chief operating officer. At the time, the Financial Times
quoted him as saying: “Being part of a turnround at GM when, frankly, many people don’t think it can be done, is exhilarating, if you like challenges. I have never had a dull day in my time at GM.”
When GM exited bankruptcy, Henderson said, "This is an exciting day for General Motors, one that will allow every employee, including me, to get back to the business of designing, building and selling great cars and trucks and serving the needs of our customers. We deeply appreciate the support we've received. We'll work hard to repay the trust, and the money, that so many have invested in GM."
On December 1, 2009, Fritz Henderson resigned from General Motors as CEO and was replaced by board Chairman Edward Whitacre, Jr.
, former head of AT&T
Inc. who will temporarily take over as CEO while a global search for a new permanent replacement is conducted. January 25, 2010 Ed Whitacre announces he will become the permanent CEO while keeping his current chairman of board of directors role.
On February 19, 2010, GM announced that Henderson would serve as a consultant on their international operations, to be paid $709,080 per year.
On Thursday September 2, 2010, Sunoco, Inc. announced that Henderson would join the company as senior vice president, and will lead the company's SunCoke Energy unit as chairman and CEO when it is spun off in 2011.
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Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of General Motors
General Motors
General Motors Company , commonly known as GM, formerly incorporated as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world's second-largest automaker in 2010...
. Prior to his appointment as CEO on March 31, 2009, Henderson was the Vice President of General Motors and has been with the company since 1984. Frederick Henderson resigned as the CEO of General Motors on December 1, 2009.
He replaced Rick Wagoner
Rick Wagoner
George Richard "Rick" Wagoner, Jr. is an American businessman and former Chairman and Chief Executive Officer of General Motors. Wagoner resigned as Chairman and CEO at General Motors on March 29, 2009, at the request of the White House...
as CEO of GM when Wagoner stepped down at the request of President Barack Obama
Barack Obama
Barack Hussein Obama II is the 44th and current President of the United States. He is the first African American to hold the office. Obama previously served as a United States Senator from Illinois, from January 2005 until he resigned following his victory in the 2008 presidential election.Born in...
in relation to the General Motors Chapter 11 reorganization
General Motors Chapter 11 reorganization
The General Motors Chapter 11 sale of the assets of automobile manufacturer General Motors and some of its subsidiaries was implemented through section 363 of Chapter 11, Title 11, United States Code in the United States Bankruptcy Court for the Southern District of New York...
after serving in that position for eight years. Henderson assumed the new position on March 31, 2009. Regarding the appointment, Wagoner said: “Having worked closely with Fritz for many years, I know that he is the ideal person to lead the company through the completion of our restructuring efforts. His knowledge of the global industry and the company are exceptional, and he has the intellect, energy, and support among GM’ers worldwide to succeed.” Henderson announced that “over the next 60 days, we will work around the clock, with all parties, to meet the aggressive requirements that have been set by the Task Force, and to make the fundamental and lasting changes necessary to reinvent GM for the long-term.”
Life and career
Henderson was born in Detroit, MichiganMichigan
Michigan is a U.S. state located in the Great Lakes Region of the United States of America. The name Michigan is the French form of the Ojibwa word mishigamaa, meaning "large water" or "large lake"....
. Henderson is a 1976 graduate of Lake Orion High School
Lake Orion High School
Lake Orion High School is a public secondary institution located in Orion Township, Michigan. It is a part of Lake Orion Community Schools.The large campus features a centralized commons area, which serves as a distribution center to the wings. The commons area features the cafeteria and student...
in Lake Orion, Michigan
Lake Orion, Michigan
Lake Orion is a village in Oakland County in the U.S. state of Michigan. The population was 2,973 at the 2010 census. "Lake Orion" is often used to describe both the village and the much larger Orion Township, of which the village is a part....
. He holds a Bachelor of Business Administration
Bachelor of Business Administration
The Bachelor of Business Administration is a bachelor's degree in Commerce and business administration. In most universities, the degree is conferred upon a student after four years of full-time study in one or more areas of business concentrations; see below...
degree from the University of Michigan
University of Michigan
The University of Michigan is a public research university located in Ann Arbor, Michigan in the United States. It is the state's oldest university and the flagship campus of the University of Michigan...
's Ross School of Business
Ross School of Business
The Stephen M. Ross School of Business is the business school of the University of Michigan. Numerous publications have ranked the Ross School of Business' Bachelor of Business Administration , Master of Business Administration and Executive Education programs among the top in the country and the...
and a Master of Business Administration
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
degree from Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
. During his time at Michigan, Henderson pitched for the University of Michigan Wolverines baseball team.
Since joining General Motors
General Motors
General Motors Company , commonly known as GM, formerly incorporated as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world's second-largest automaker in 2010...
in 1984, he held a number of positions with the company until 1992 when he became GMAC group vice president of finance in Detroit.
From 1997 to 2000, Henderson became GM vice president and managing director of GM do Brasil covering GM operations in Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
, Argentina
Argentina
Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
, Paraguay
Paraguay
Paraguay , officially the Republic of Paraguay , is a landlocked country in South America. It is bordered by Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest. Paraguay lies on both banks of the Paraguay River, which runs through the center of the...
, and Uruguay
Uruguay
Uruguay ,officially the Oriental Republic of Uruguay,sometimes the Eastern Republic of Uruguay; ) is a country in the southeastern part of South America. It is home to some 3.5 million people, of whom 1.8 million live in the capital Montevideo and its metropolitan area...
. Here he was successful in introducing small, inexpensive cars such as the Celta subcompact
Chevrolet Celta
The Chevrolet Celta is a low cost supermini produced by General Motors do Brasil for the Latin American market since 2000. 600,000 Celtas have been built in Gravataí, more than one hundred thousand per year. It is the second cheapest car sold in Brazil, losing only to the Fiat Mille...
and the Meriva microvan
Opel Meriva
The Opel Meriva is a compact MPV engineered and produced by the German automaker Opel. The car is sold under the Opel brand on all of the European markets with the exception of the United Kingdom, where it is called the Vauxhall Meriva, and Latin America, where it carried the Chevrolet badge. It...
, both produced in Brazil.
In June 2000, he was appointed group vice president and president of GM-LAAM (Latin America
Latin America
Latin America is a region of the Americas where Romance languages – particularly Spanish and Portuguese, and variably French – are primarily spoken. Latin America has an area of approximately 21,069,500 km² , almost 3.9% of the Earth's surface or 14.1% of its land surface area...
, Africa
Africa
Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...
and Middle East
Middle East
The Middle East is a region that encompasses Western Asia and Northern Africa. It is often used as a synonym for Near East, in opposition to Far East...
) and in January 2002, he moved to Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
as president of GM Asia Pacific where he was successful in expanding operations in Korea
Korea
Korea ) is an East Asian geographic region that is currently divided into two separate sovereign states — North Korea and South Korea. Located on the Korean Peninsula, Korea is bordered by the People's Republic of China to the northwest, Russia to the northeast, and is separated from Japan to the...
and China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
.
In 2004, Henderson was appointed chairman of GM Europe, based in Zurich
Zürich
Zurich is the largest city in Switzerland and the capital of the canton of Zurich. It is located in central Switzerland at the northwestern tip of Lake Zurich...
, Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
, where he undertook substantial restructuring including significant reductions in jobs.
After becoming vice chairman and chief financial officer in January 2006, in March 2009, he became GM president and chief operating officer. At the time, the Financial Times
Financial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
quoted him as saying: “Being part of a turnround at GM when, frankly, many people don’t think it can be done, is exhilarating, if you like challenges. I have never had a dull day in my time at GM.”
When GM exited bankruptcy, Henderson said, "This is an exciting day for General Motors, one that will allow every employee, including me, to get back to the business of designing, building and selling great cars and trucks and serving the needs of our customers. We deeply appreciate the support we've received. We'll work hard to repay the trust, and the money, that so many have invested in GM."
On December 1, 2009, Fritz Henderson resigned from General Motors as CEO and was replaced by board Chairman Edward Whitacre, Jr.
Edward Whitacre, Jr.
Edward Earl "Ed" Whitacre, Jr. is the former Chairman and CEO of General Motors. He is also a former chairman of the board and chief executive officer of AT&T Inc., previously SBC. He served as national president of the Boy Scouts of America from 1998 to 2000...
, former head of AT&T
AT&T
AT&T Inc. is an American multinational telecommunications corporation headquartered in Whitacre Tower, Dallas, Texas, United States. It is the largest provider of mobile telephony and fixed telephony in the United States, and is also a provider of broadband and subscription television services...
Inc. who will temporarily take over as CEO while a global search for a new permanent replacement is conducted. January 25, 2010 Ed Whitacre announces he will become the permanent CEO while keeping his current chairman of board of directors role.
On February 19, 2010, GM announced that Henderson would serve as a consultant on their international operations, to be paid $709,080 per year.
On Thursday September 2, 2010, Sunoco, Inc. announced that Henderson would join the company as senior vice president, and will lead the company's SunCoke Energy unit as chairman and CEO when it is spun off in 2011.
Family
Henderson is married to wife Karen Henderson and has two daughters, Sarah and Emily Henderson.External link
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