General Motors Vice Chairman and Chief Financial Officer Chris Liddell recently announced that he will leave the company April 1, 2011, having completed the largest public offering in history and stabilizing the company's financial operations. Liddell, 52, joined GM in January, 2010 and led the company's financial and accounting operations on a global basis. "Chris was a major contributor during a pivotal time in the company's history," said Dan Akerson, GM Chairman and CEO. "He guided the company's IPO process and established a good financial foundation for the future."
In addition to the successful IPO, Akerson recognized Liddell's leadership over the last year noting four quarters of sustained profitability, a strengthened balance sheet and the elimination of material weakness in the financial reporting process.
Dan Ammann will succeed Liddell as General Motors Chief Financial Officer, effective April 1, 2011. Ammann, 38, is currently GM Vice President, Finance and Treasurer.
"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," said Akerson. "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."
Since joining the company in March 2010, Ammann has led the GM Treasurer's Office, based in New York, with operations around the world. Prior to GM, Ammann was managing director and head of Industrials Investment Banking for Morgan Stanley and was instrumental in many high profile assignments spanning a variety of technology, service, and manufacturing clients.