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The New GM: We’re Ready for the Challenge

By Fritz Henderson
GM President and CEO

Last night, we took another big step toward the creation of an independent new GM when we received court approval for the sale of substantially all of GM’s assets to an entity funded by the U.S. Department of the Treasury. We expect the sale to close as soon as possible after the appeal process is exhausted later this week, and for the new GM to be operational and fully competitive, with an exciting line of new products, a smaller and more focused brand portfolio, and a clear mission to put the customer first in everything we do.

Our focus in recent weeks has been on creating a new company from the strongest parts of the old GM, and on doing it with transparency and speed. This has been an especially challenging period, and we’ve had to make very difficult decisions to address some of the issues that have plagued our business for decades. We have, in effect, been fixing our bike while we ride it. Now the repair work is almost done, and we’re steering the company back onto a path to viability and success. We’re ready for the challenge, and prepared to ride as fast as we can.

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