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| Fritz Henderson resigns from GM | Fritz Henderson resigns from GM |
| (10 minutes later) | |
| Fritz Henderson is stepping down as chief executive at US car giant General Motors, the company has announced. | Fritz Henderson is stepping down as chief executive at US car giant General Motors, the company has announced. |
| GM's chairman of the board, Ed Whitacre Jr, will serve as an interim replacement. | |
| The news came minutes after the end of a GM board meeting to discuss the fate of its Swedish car brand Saab. | The news came minutes after the end of a GM board meeting to discuss the fate of its Swedish car brand Saab. |
| GM said due to the emergence of new potential buyers that it would evaluate bids for carmaker Saab by the end of December. | GM said due to the emergence of new potential buyers that it would evaluate bids for carmaker Saab by the end of December. |
| GM said that if it did not find a "suitable arrangement" it would then "wind down" Saab. | GM said that if it did not find a "suitable arrangement" it would then "wind down" Saab. |
| GM did not name the potential bidders. A deal to buy the carmaker failed last week. | GM did not name the potential bidders. A deal to buy the carmaker failed last week. |
| A group led by Sweden's Koenigsegg Automotive dropped out of a possible takeover and this marked the third failed Saab sale this year. | A group led by Sweden's Koenigsegg Automotive dropped out of a possible takeover and this marked the third failed Saab sale this year. |
| About 4,500 jobs at Saab are at stake. | About 4,500 jobs at Saab are at stake. |
| Opel and Vauxhall | Opel and Vauxhall |
| In November GM announced that it was calling off plans to sell its other European business, Opel, along with its UK brand, Vauxhall. | In November GM announced that it was calling off plans to sell its other European business, Opel, along with its UK brand, Vauxhall. |
| Saab has not made a profit since 2001 | Saab has not made a profit since 2001 |
| GM had agreed to sell Opel and Vauxhall to Canadian car parts firm Magna, but changed its mind. | GM had agreed to sell Opel and Vauxhall to Canadian car parts firm Magna, but changed its mind. |
| It had put both Opel and Saab up for sale at the start of the year before it went into bankruptcy protection in the US on 1 June, which it then exited in just over one month after support from the US government. | It had put both Opel and Saab up for sale at the start of the year before it went into bankruptcy protection in the US on 1 June, which it then exited in just over one month after support from the US government. |
| GM's finances have greatly improved since then, leading to its decision to keep Opel and Vauxhall. | GM's finances have greatly improved since then, leading to its decision to keep Opel and Vauxhall. |