BREAKING: Ex-Microsoft CFO Chris Liddell named CFO of General Motors

In the search for an auto industry outside, General Motors has announced that Chris Liddell will become the automaker's vice chairman and CFO in 2010.

Set to replace Ray G. Young -- a 20-year veteran of GM -- Liddell, the former Chief Financial Officer for software giant Microsoft, will report to GM's chairman and acting CEO Ed Whitacre and use his financial expertise to right the General's ship after one of the worst years in the automaker's history.

Liddell, an engineering and philosophy major, oversaw Microsoft's global acquisitions, accounting and reporting while leading its financial team, and will depart from the software colossus on December 31. More details on this corporate breath of fresh air in the press release after the break.

[Source: General Motors]

PRESS RELEASE:

Chris Liddell Named GM Vice Chairman and CFO

DETROIT – Chris Liddell has been appointed General Motors vice chairman and chief financial officer, it was announced today. Liddell was most recently CFO for Microsoft Corp., a post he held since May, 2005.

"Chris brings a depth and experience to this job that were unmatched in our search for a new financial leader," said Ed Whitacre, GM chairman and CEO. "Chris will lead our financial and accounting operations on a global basis and will report directly to me. We're also looking to his experience and insights in corporate strategy as a member of the senior leadership team in helping our restructuring efforts."

Liddell will start with GM in the new year. While at Microsoft, Liddell was responsible for leading Microsoft Corp.'s worldwide finance organization, which included overseeing acquisitions, corporate strategy, treasury activities, tax planning, accounting and reporting, internal audit, and investor relations. He is leaving Microsoft on December 31 of this year.

Before joining Microsoft, Liddell was CFO at International Paper Co., the world's largest forest products company, with similar responsibilities. Prior to that, he was chief executive officer of Carter Holt Harvey Ltd., then New Zealand's second-largest listed company. He also has worked as an investment banker as managing director and joint CEO for CS First Boston NZ Ltd.

Liddell, 51, holds an engineering degree with honors from the University of Auckland, New Zealand, and a Master of Philosophy degree from Oxford University in England. He has served as director of the New Zealand Rugby Union and governor of the New Zealand Sports Foundation. He is a distinguished alumnus of the University of Auckland. Liddell was a member of the Securities and Exchange Commission's Advisory Committee on Improvements to Financial Reporting.