Detroit

GM CEO, Edward Whitacre Jr., Stepping Down

After company reports good second quarter.

He wasn’t hanging around Jodie Fisher, was he? GM’s CEO, Edward Whitacre Jr., announced on Thursday that he’ll step down on September 1 after the auto company reported a $1.3 billion second-quarter profit. He’ll be replaced as CEO by GM board member Daniel F. Akerson, who will be the company’s fourth CEO in less than two years. Whitacre said he would stay on as GM chairman until the end of the year, when Akerson would assume that role as well. Whitacre had previously said he would serve as CEO only until GM stabilized its finances, but The New York Times says that both the timing of his announcement and the choice of Akerson as his successor were unexpected.