Frederick Henderson, chairman of GM Europe and a GM group vice president, has been appointed as GM vice chairman and chief financial officer, effective from January 1.

Carl-Peter Forster, GM vice president and president of GM Europe, will replace Henderson as a group vice president while remaining president of GM Europe.

Current vice chairman and CFO John Devine has agreed to remain beyond his five-year contract, which expires this month, for up to one year and will serve as vice chairman.