GM CFO to be announced within weeks

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.
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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.


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)