General Motors made a series of top-level appointments last month. The highest-profile of them, of course, was the nomination of Mary Barra as Chief Executive Officer. But the industrial giant also named Tim Solso as chairman and Dan Ammann as president. The one thing that was missing was a new CFO.
The last two chief financial officers at General Motors, Rick Wagoner and Fritz Henderson, eventually became CEO. Ray Young, who has been CFO at the General for less than a year and a half, likely won't make it to the top. The Detroit News reports that Young is going to resign his post as CFO in the weeks ahead, and he may be only one of a few departures among senior GM brass.
The beating of the
drums calling for the head of [General Motors'] Rick Wagoner continues to crescendo.
The embattled chief executive has been stung by a growing chorus of critics in light of the company's recent financial
restatement in which it disclosed that the company had lost a further 2 billion dollars. As a former chief financial
officer, pundits argue that it is particularly disturbing that a company helmed by a money-man would have such