Fritz Henderson Resigns as CEO of General Motors

General Motors CEO Fritz Henderson resigned following what board Chairman Ed Whitacre described as a "hectic" directors meeting.

Henderson's departure marks the third change in leadership for GM in less than a year during which time the company negotiated bankruptcy proceedings with government oversight.

Whitacre will assume the leadership of GM until a permanent replacement for Henderson is named. Although the U.S. Department of Treasury owns 61 percent of GM's stock, officials there were not consulted about Henderson's departure, only informed after the fact.

Henderson, 51, took over in March 2009 when the Obama administration forced out Rick Wagoner as part of the company's government-funded restructuring. Whitacre would not discuss the specific reasons for Henderson's departure saying only, "While momentum has been building over the past several months, all involved agree that changes needed to be made."

Henderson worked for General Motors for 25 years, coming to the company out of business school. Many questioned his ability to bring change to an insular corporate culture of which he was himself a member. Whitacre was the government's choice to lead the company and Henderson's relationship with Automotive Task Force has been described as lukewarm.

Most pundits suggest that the failure to conclude the sale of Saab and an abrupt change of direction on the sale of Opel contributed to Henderson's resignation.

2011 Ford Mustang V6 makes 305 HP, gets 30 MPG

2011 Ford Mustang V6 – Click above for high-res image gallery

It would be reasonable to expect that Ford might pass over the Mustang and instead devote more attention to its other models since it's fresh off a comprehensive revamp for the 2010 model year. However, that's not what is shaping up in the House That Henry Built.

For 2011, the Blue Oval is introducing a new 3.7-liter V6 Mustang that should give it the firepower and refinement needed to take on Chevrolet's six-cylinder Camaro and Hyundai's upstart Genesis Coupe. But it isn't just the spanking all-aluminum powerplant and its 305 horsepower and 280 foot-pounds of torque that's making the scene for the forthcoming model year. In addition to the Cleveland-sourced mill, there are a pair of fresh gearboxes, a new V6 performance package, and a host of nip/tucks to the interior and elsewhere.

Now, we could grouse on behalf of 2010 MY 'Stang owners everywhere that these upgrades weren't part of last year's mid-life updo, but instead, we'll just be happy that these advancements are arriving at all.

Despite being smaller than the outgoing 4.0-liter V6, the dual-overhead cam 3.7-liter's horsepower and torque ratings represent massive improvements over the 2010 model (305 HP dismisses 210 HP and 280 lb-ft. plays 240 torques). In fact, that's more horsepower than the 4.6-liter V8 Mustang made just a few years ago. While the 305-horse figure only allows the Mustang to pip the crosstown Camaro by a single all-important stallion in the pony car bragging wars, Ford says the powertrain will be good for 30 miles-per-gallon on the highway when paired with its new six-speed automatic, also one notch better than the Chevy.

Click through to the jump to read more details and check out Ford's suite of press releases.

2011 Ford Mustang 3.7-liter V6

• 
• 
• 
• 
• 
• 
• 
•