Chris Liddell,the widely respected chief financial officer of General Motors,has announced his resignation.Company treasurer Dan Ammann has been chosen to succeed Mr.Liddell.
Harry Wilson,a former member of the White House auto task force,said Mr.Ammann knows the company quite well.I would expect him to be long term.
The speculation was that Mr.Liddell was looking beyond the CFO position.That was reasonable given his age and accomplishments.He certainly did a good job in his 14 months at the company.
GM's was the biggest cultural change of any organization in U.S. corporate history.It went from mediocrity to success,which was played out on the world's biggest stage.
Mr.Liddell was the only outsider there.The others were holdovers.
The challenges GM and Mr.Ammann will face are:
1.Maintaining its high level of profitability
2.Continuing to revamp its product line
3.Stabilizing its executive ranks.
General Motors(GM)
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