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(Image from article: "GM at work on IPO filing but not ready yet: CEO")

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New GM CEO to step down

Ed Whitacre will be replaced by The Carlyle Group's Daniel Akerson on September first.

Senh: I don't get it. Why is Whitacre resigning after the company posted quarterly profits. Looks like the company's heading in the right direction.

GM at work on IPO filing but not ready yet: CEO

General Motors Co has begun to work on the U.S. regulatory filing needed for an initial public offering but does not expect to have that ready in the next two weeks, Chief Executive Ed Whitacre said on Thursday.

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