Former GM CEO Fritz Henderson to Lead Sunoco Spin-Off

Former General Motors CEO Frederick "Fritz" Henderson has found a new job, but not within the auto industry. Energy giant Sunoco (SUN) has tapped Henderson to lead an energy spin-off it is forming early next year, the company said Thursday.

Henderson, 52, is joining Philadelphia-based Sunoco as a senior vice president, and will help prepare for SunCoke Energy to split Sunoco's metallurgical coke manufacturing operations away from its core oil refining and gasoline station businesses in the first half of next year. He will then assume the posts of chairman and CEO of SunCoke.

Sponsored Links

Coke is a key ingredient used in the manufacture of steel. Sunoco provides coke for steel manufacturers in the U.S. and Brazil, the Associated Press reported.

Henderson was named to head GM in March 2009, after Rick Wagoner resigned as chief executive following a nearly decade-long run. Henderson led GM through bankruptcy several months later, but was ousted late last year as complaints emerged that the automaker's turnaround wasn't moving along quickly enough.

He was replaced by former AT&T (T) CEO Edward Whitacre, who resigned the post effective Wednesday. Dan Akerson now holds the GM CEO position, and will assume Whitacre's other role of chairman by year's end.

Since leaving the GM CEO post, Henderson has continued to serve as a consultant to the Detroit-based automaker, the AP reported.