'Mr. Fixit' Fritz Henderson to steer beleaguered automaker

Frederick (Fritz) Henderson, dubbed "Mr. Fixit" for his work revamping General Motors' troubled sectors in difficult times, has long been considered an obvious choice to succeed Richard Wagoner Jr.

Save for a brief term at the accounting firm Price Waterhouse, Henderson has been a GM company man since 1984 when he started as a New York-based financial analyst in the treasurer's office. From there, Henderson's ascent within the company has been steep. John F. Smith Jr., the retired GM chairman, in 2004 had high praise for Henderson, telling BusinessWeek: "If you see a guy with talent, you give him a difficult assignment. If he does well, you reward him with another tough assignment."

'If you see a guy with talent, you give him a difficult assignment. If he does well, you reward him with another tough assignment.' John F. Smith Jr., former GM chairman

In 1989, Henderson became director of mortgage banking for GMAC. Four years later, he was named GM's vice-president of finance. Later posts included leading the Latin America, Africa and Middle East business unit (1997-2000), president of GM Asia Pacific (2002-04), group vice-president and chairman of GM Europe (2004-06), vice-chairman and chief financial officer (2006-08). In March 2008, Henderson became the automaker's president and chief operating officer.

Henderson has earned a reputation for resolving difficult labour issues, including the 2007 contract negotiations with the UAW. He was also praised for securing an agreement to purchase South Korea's second-largest automaker Daewoo Auto & Technology in 2002. Critics note that Henderson's decision to cut 12,000 jobs in 2004 spurred a wildcat strike in Germany. He defended the cuts, saying the company had no choice but toreduce its labour costs.

In 2006, Henderson told the Financial Times he revelled in the prospect of a good trial.

"Being part of a turnaround at GM when, frankly, many people don't think it can be done, is exhilarating, if you like challenges," he said. "I have never had a dull day in my time at GM."

Henderson graduated with a degree in business administration from the University of Michigan, and a master's degree from Harvard Business School.