A surprise announcement Thursday, former Texas Tech Regent Ed Whitacre says he is stepping down as CEO of General Motors.
Whitacre was the former head of AT&T before taking the reins at GM last fall. Now, he plans to step down on September first and will be replaced by Daniel Akerson.
The announcement comes as the automaker reported its second straight quarterly profit of $1.6 billion. That's the largest since 2004.
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