Rick Wagoner

General Motors (GM) CEO Rick Wagoner resigned from his position in an agreement with the Obama administration. GM was threatened with the withholding of federal bailout money unless Wagoner resigned.WSJ.com: U.S. Forces Out GM CEO Wagoner (March 30, 2009) His resignation went into effect on March 29, 2009.Bloomberg.com: GM's Wagoner Steps Aside After Failing Obama Scrutiny (March 30, 2009) In a statement, Wagoner said that he was asked to "step aside."USAToday.com: GM's Wagoner Forced out as Automakers... (March 30, 2009)

Wagoner became president and CEO in 2000 and became chairman in 2003. Wagoner has been replaced by Fritz Henderson.Bloomberg.com: GM's Wagoner Steps Aside After Failing Obama Scrutiny (March 30, 2009)

"On Friday I was in Washington for a meeting with Administration officials. In the course of that meeting, they requested that I “step aside” as CEO of GM, and so I have."Freep.com: Statements from Wagoner, GM Board (March 29, 2009)

"Fritz Henderson is an excellent choice to be the next CEO of GM. 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. I wish him well, and I stand ready to support him, and interim Non-Executive Chairman Kent Kresa, in every way possible."Freep.com: Statements from Wagoner, GM Board (March 29, 2009)