Patrick Rall's picture

GM CFO and Vice Chairman to step down April 1st

General Motors announced this morning that effective April 1st, 2011, Chief Financial Officer and Vice Chairman Chris Liddell will leave the company after just over a year of service with the company calling all of the financial shots around the world.

Chris Liddell was hired in January 2010 to oversee the financial and accounting decisions across General Motor’s global operations. Liddell was also tasked with the incredible task of overseeing the GM Initial Public Offering late in 2010, which was a great success for the automaker. This move comes as quite a surprise around the Detroit auto world, as some believed that Liddell could be a future consideration as the CEO should current shot-caller Dan Akerson change positions. Akerson had this comment about Liddell’s departure from GM:
“Chris was a major contributor during a pivotal time in the company’s history. He guided the company’s IPO process and established a good financial foundation for the future.”

Liddell will be succeeded by Dan Ammann, who is the treasurer and current VP of finance. Ammann joined General Motors in March of 2010, leading the treasurer’s office in New York, controlling financial operations around the world. Before coming to GM, Ammann was managing director and head of Industrials Investment Banking for Morgan Stanley. Akerson made the following statement regarding the future CFO:
“Dan’s depth of knowledge of the financial community and our business will be instrumental as we continue to earn the trust of global investors and customers. He is held in high regard on Wall Street and within the company and, as we move our financial strategy forward, his credibility and leadership will be invaluable.”

Ammann’s replacement as the treasurer and current VP of finance for General Motors will be announced at a later date.

Other GM News:
GM planning to add 2nd shift for Volt production in 2012
Chevrolet Volt priced for the European market
The 2011 Chevy Volt rocks the Nissan Leaf in February sales
General Motors leads the industry in February sales volume, growth
The Camaro roughs up the Mustang and Challenger in February sales


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