General Motors is facing a variety of challenges as it looks to recruit a new CFO
By Nina Trentmann Close Nina Trentmann Aug. 11, 2020 6:14 pm ET General Motors Co. faces a variety of challenges as it looks to recruit a new chief financial officer following the unexpected departure of incumbent Dhivya Suryadevara.
PREVIEWSUBSCRIBE GM in recent years has shifted its focus toward electric and autonomous vehicles and pledged to spend billions of dollars to expand these businesses. But, it is facing competition from the likes of Tesla Inc. as well as other U.S. car makers such as Ford Motor Co. The company is also under pressure to reduce costs and streamline processes as new vehicle sales lag due to the coronavirus pandemic and the economic downturn.
GM could follow the example set by Ford, which last year hired Tim Stone, a former Snap Inc. and Amazon.com Inc. executive, as its CFO, said Cathy Logue, head of the chief financial officers’ practice at recruiter Stanton Chase. GM could also consider hiring another female executive or a person of color, Ms. Logue said, pointing to growing expectations from the public toward more representative leadership teams at companies. Ms. Suryadevara was GM’s first female CFO when she took on the job in September 2018.
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