GM to sell Isuzu stake

GM said it will sell its 7.9% stake in Isuzu Motors for $300 million, unraveling a 35-year equity alliance to raise much-needed cash to revive its ailing business. In the widely expected move, Japanese trading houses Mitsubishi and Itochu will each take a 3.5% stake and Mizuho Corporate Bank (a unit of Mizuho Financial Group) will buy the remaining 0.9%.

Burger King CEO Resigns

Burger King Chairman and CEO Greg Brenneman resigned today.

John Chidsey, the company's president and CFO, will immediately take over as Burger King's CEO. He's the company's ninth CEO in 11 years.

Brian Swette, a current independent director, will serve as non-executive chairman. SVP and Treasurer Ben Wells will fill Chidsey's spot as CFO.