There's a strong argument the torch has passed to Dan O'Dowd, the 10-year veteran GM who's quietly put the budget-conscious Colorado Rockies into the playoffs for the second time in three seasons.
O'Neal came over from General Motors (nyse: GM - news - people ) and jumped into Merrill's investment bank in 1986, climbing to the chief spot in 2001.
But Whitacre's departure won't change the risk--"a big risk in my mind, " says O' Keefe's Coulter--that the IPO could turn into a PR nightmare for GM if its opening price is too low.