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 |  Mar 10 2011, 5:46 PM

After 14 months on the job and one IPO, General Motors CFO Chris Liddell is stepping down, and will be replaced by treasurer Dan Ammann. Liddell was viewed as a potential successor to CEO Dan Akerson, but said he wants to move on from his CFO position, after having previously holding the title at Microsoft and International Paper Co.

GM has undergone a number of management changes recently, most notably appointing Mary Barra as the head of product development from her former post in human resources. An analyst at Morgan Stanley noted the management shift came at “…a time of heightened geopolitical and macroeconomic risk.”

[Source: Automotive News]

 |  May 17 2010, 10:06 AM


New models, strong sales and cost cutting measures have put General Motors in the black for the first quarter of 2010. GM posted a $865 million Q1 net profit, after posting staggering losses for five straight years in a row.

“We’re pleased with our first quarter performance, in particular achieving profitability,” said Chris Liddell, vice chairman and chief financial officer. “In North America we are adding production to keep up with strong demand for new products in our four brands. We’re also steadily growing in emerging markets, keeping our costs under control, generating positive cash flow and maintaining a strong balance sheet.  These are all important steps as we lay the foundation for a successful GM.”

Recently GM announced it had paid back the almost $8 billion in loans from the Canadian and U.S. governments, however, the U.S. Treasury also fronted $43 billion to save the American auto giant from solvency. If GM can sustain profits then the U.S. government may look to sell-off its shares of the automaker by the end of the year.

[Source: Automotive News]

Official release after the jump:

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