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GM CFO to be announced within weeks

By Tim Beissmann |

General Motors is close to appointing a new Chief Financial Officer (CFO) after a week of positional shuffling at the top, according to the company’s Chairman and interim CEO, Ed Whitacre.

Whitacre was hopeful that an announcement would be made within two to three weeks and said that “a real good candidate” had presented to replace Ray Young in the job.

Other shake-ups last week saw Susan Docherty promoted to vice president of sales, service and marketing for the US and ex-Holden managing director Mark Reuss stepping up as president of GM North America.

Talking to reporters in a web-based chat today, Whitacre was asked how much time the new recruits would have to show results before getting the boot like dismissed CEO Fritz Henderson.

MReuss_0551

His response: “Not long :-) ”.

Whitacre said that the pay restrictions placed on GM executives made hiring a CEO from outside the company difficult and admitted that he was not sure whether the restrictions would be limited once GM paid back its senior debt to the US Government.

He also confirmed that there were currently no plans for further job cuts at any level of GM’s US operations.

 

(with Automotive News)


 
  • Bent 8 Brigade

    Good times ahead for Holden…two Holden supporters now high up in GM Management, Mark Reuss and Bob Lutz

  • Will

    The use-by date on Lutz was 1992. GM was suffering extreme astigmatism when they hired him ’99. He and others of his ilk provided for one of the greatest novelties of incompetence of our time.

    Buy a GM product, you buy an orphan.

    Deck chairs or at best night of the bleeding dead.

    • poohbear

      Or, you could buy a Skoda. But then, who will honor your warranty claims in 5 years or so after Skoda have gone the way of Seat and the dodo. It would be a brave brave buyer laying down any hard-earned cash on outdated VW tech

      • Will

        Thank you for raising Skoda, a recent success phenomenon from VAG. Here they are outselling Fiat, Alfa Romeo and Mini to name but a few.

        It caters for the smart people out there. Poohbear, stop smoking the woopi weed, you will grow extra fingers and your eyes will turn another colour.

        • The Real Car Fanatic

          personally I think he has hairy palms and needs glasses and we all know what causes that!

  • Shak

    Will Lutz was the one with vision and the one who supported the good cars, and because of his outside the box thinking he wasnt listened to. Now with the right people starting to take back the top jobs GM’s fortunes may turn around.