NBC: Obama Administration asked Wagoner to step down

According to NBC News, General Motors Chairman and CEO Rick Wagoner was asked to resign his posts by President Barack Obama’s auto task force as a condition of further federal aid the the struggling automaker. An unidentified source supplied the information to reporter John Yang.

The story was broken by Bloomberg News. The Associated Press later said Wagoner’s departure would be immediate.

As of 6:15 PM, there has been no official comment from General Motors.

Wagoner, the longest-serving CEO of the major American car companies, has come under fire for his leadership of what was once the world’s largest automaker. Wagoner has been with General Motors over thirty years and has been the company’s president and CEO for the past ten years. He has also been chairman of the board since 2003.

Alan Mulally, CEO of Ford Motor Company, is the next-longest serving chief executive of an American automaker. Mulally has been on the job just over 2.5 years. Robert Nardelli, CEO of Chrysler LLC, joined the smallest of the Detroit Three nineteen months ago.