General Motors Chief Executive Ed Whitacre announced on Thursday that he would step down as CEO effective September 1 and would be replaced by Dan Akerson, a GM board member.

Highlights:

* GM CFO says expects to post $200 million to $300 million in restructuring charges in Q3 and Q4 for restructuring opel

* GM CFO declines to comment on talks on securing credit facility, says loan agreement one of the 'building blocks' for healthy balance sheet

* GM CFO says sees no evidence U.S. economic recovery is 'turning down at this

stage'

* GM CFO says automaker could add production capacity at U.S. plants by adding

third shift

* GM CFO declines to comment on IPO filing timing

* GM CEO whitacre says effective September 1 will step down as CEO

* GM CEO whitacre says will remain chairman until end of 2010 * Whitacre says will be replaced by Dan Akerson as CEO

* Whitacre says board has been considering change in his role since he took CEO

role * Whitacre says confident Akerson will 'do a great job'; has full support of

the board * Gm's Akerson says 'I've watched GM regain momentum in North America' * Gm's Akerson says 'We still have important work ahead of US but I am

confident that we are building the foundation for GM's long-term success' * Gm's akerson says thankful Whitacre is remaining chairman, premature to

discuss his plans as CEO

(Detroit Equities Desk)

General motors