DETROIT — General Motors' head Fritz Henderson issued a statement Monday thanking Steve Rattner as a key contributor to the automaker coming out of bankruptcy so quickly.

As many have heard, Rattner announced Monday he is leaving his role with the auto task force. Ron Bloom, a former investment banker and adviser to the United Steelworkers union, will be replacing Rattner and heading up the task force.

"Steve's expertise was a key contributor toward a new GM emerging in record time. His leadership of the auto task force helped support our making the difficult commercial decisions that are necessary to re-invent GM," said the GM chief executive officer.

"I commend Steve for his leadership and his sense of service to the country. I wish him continued success in his next endeavors," Henderson added.

Meanwhile, Treasury Secretary Geithner indicated in a statement, "With the emergence of both General Motors and Chrysler from bankruptcy, we enter a new phase of the government's unprecedented and temporary involvement in the automotive industry. I am very proud of the work done by the auto task force, under the leadership of Steven Rattner and Ron Bloom, to help oversee the efficient, fair and commercial restructuring of two great American companies.

"With GM's restructuring complete, Steven Rattner, whose leadership and vision were invaluable to the auto task force's efforts, has decided to transition back to private life and his family in New York City," Geithner continued. "We are extremely grateful to Steve for his efforts in helping to strengthen GM and Chrysler, recapitalize GMAC, and support the American auto industry. I hope that he takes another opportunity to bring his unique skills to government service in the future."

Discussing Bloom taking over Rattner's role, the treasury secretary added, "Ron Bloom will assume leadership of the task force's activities as the government transitions its role away from day-to-day restructuring to monitoring this vital industry and protecting the substantial investment the American taxpayers have made in GM, Chrysler and GMAC."

President Obama named Rattner to the auto task force back in February. Prior to his government role, Rattner most recently was managing principal at Quadrangle Group, LLC since 2000. In addition to other roles, he also spent a stint as a correspondent for The New York Times from 1975 to 1982.

Ultimately, Geithner said, "Now, with day-to-day management of these companies in the hands of the private sector, the American taxpayers have a better chance of recouping their investment in these companies.

"There is still much work ahead to ensure that GM and Chrysler re-emerge as stronger, more competitive companies. President Obama has made it perfectly clear that it is the responsibility of their private boards of directors and management teams to deliver that result. And thanks to the hard work of Steve, Ron and the entire auto task force, they have a much better chance today of rebuilding those companies and making them once again symbols of American success," he concluded.