If you've been wondering what former General Motors CEO Fritz Henderson has been up to since getting the boot, The Detroit News has the skinny for you. Henderson is now headed to Sunoco to fill in as the company's senior vice president, at least for now. The company is currently planning to spin off its SunCoke Energy arm during the first half of 2011, and when that happens, Henderson will become the subsidiary's chairman and CEO.
SunCoke produces metallurgical coke used to manufacture steel. The company currently operates plants in Virginia, Illinois, Indiana and Ohio, and is currently building a second, high-capacity facility in the Buckeye State. That plant, in Middleton, is slated to produce 550,000 tons of coke while at max capacity.
Coke is formed by super heating coal to bond carbon and ash. The process burns off contaminates like water and coal tar to create an energy-dense fuel. Byproducts of the process are typically used to generate electricity, as in the case with the Middleton plant.
Henderson, a long-time GM man, held the company's reins for a short time starting in 2009, but was replaced with Ed Whitacre amidst concerns that the company's turnaround wasn't moving fast enough.
[Source: The Detroit News | Image: Joe Raedle/Getty]