GM boss Wagoner to quit

Reports suggest US president asked carmaker’s chief executive to resign.

Rick Wagoner
Wagoner spent eight years leading GM [AFP]

Wagoner, 56, spent eight years leading the struggling automaker.

The GM boss came under fire for his leadership of GM late last year when US politicians debated a bailout for the automaker.

GM is surviving on $13.4bn in US loans and is asking for more than $16bn in additional aid to survive, the Bloomberg news service reported.

Source: News Agencies