General Motors boss to stand down

The chief executive of the US car giant General Motors has announced plans to resign.

Edward Whitacre will leave the role in September, after taking over last year to guide the company through restructuring.

He will hand over to current board member Dan Akerson, but will stay on as chairman until the end of the year.

Announcing his resignation, Mr Whitacre said he had achieved what he set out to do on joining GM in July last year.

"My goal in coming to General Motors was to help restore profitability, build a strong market position, and position this iconic company for success [and] we are clearly on that path," he said.

Earlier, GM reported second-quarter profits of $1.6bn, the company's biggest profit in six years.

They also mark the second consecutive quarter of profits, following the companies big losses in 2009, when it was forced to seek bankruptcy protection.

It was also forced to seek government support, along with rival Chrysler, to allow it to emerge from bankruptcy and restructure.

The company said the results showed "sustained progress" in the turnaround of the company.