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Silicon Valley steals one of Motown’s best and brightest for a new startup
Dhivya Suryadevara, one of the youngest and most senior executives at General Motors and the auto industry, is stepping down as chief financial officer to take on a similar role to Stripe, the start-up of online payments.
“I am very excited to join Stripe at a pivotal time for the company. Stripe’s mission to increase Internet GDP is now more important than ever, “Suryadevara said in a statement published by Stripe,” I really enjoy leading complex, large-scale businesses and I hope to use my skills to help the Stripes. already steep to accelerate growth trajectory. ”
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The company notes that Suryadevara “will play a crucial role in enabling this aggressive growth while maintaining the highest standards in disciplinary and fiscal responsibility,” and cites General Motors’ “wealth of experience”.
“Dhivya is a rare leader who has led a leading leviathan, but is also excited about the launch of the new products and the products yet to be invented,” said John Collison, co-founder of Stripe. “She has the expertise and instincts to help drive Stripe through our growth in the years to come.”
According to the announcement, Suryadevara is joining more than 400 new employees joining Stripe this year. The company has a workforce of 2,800 across 16 global offices and has expanded significantly over the past year, with service in 15 new countries in Latin America, Asia-Pacific and Europe.
Dhivya Suryadevara, seen on the trading floor of the New York Stock Exchange this past February, has announced that she is leaving General Motors. (AP photo / Richard Drew, file)
Of her time at the car giant, Suryadevara said in a statement on Tuesday. “I am grateful for the opportunities I have had at GM” and said she “has great confidence in GM’s trajectory and future.”
Suryadevara joined GM in 2005 and became global CFO in June 2018 at the age of 39, succeeding Chuck Stevens, who retired on March 1, 2019.
It worked on the division of GM from its Opel operations in Germany, its acquisition of autonomous technology company Cruise, GM’s investment in ride-sharing service Lyft, and its partnership with SoftBank to invest $ 2.25 billion in Cruise, according to the Detroit Free Press.
In addition, she was “the driving force” behind GM’s November 2018 announcement that it would close five plants in North America, and cut thousands upon thousands of salaries and hourly jobs as part of a restructuring.
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General Motors Chairman and CEO Mary Barra said Suryadevara has been a “transformation leader” who has helped the company “strengthen our balance sheet, improve our cost structure, focus on cash generation and drive the right investments for our future. “
“We wish her every success,” Barra added.
General Motors has named John Stapleton as acting global financial officer, effective August 15th. The appointment follows the dismissal of Dhivya Suryadevara, executive vice president and CFO, who will leave the company for an external opportunity
Effective August 31, GM North America Chief Financial Officer John Stapleton will replace Suryadevara as acting global financial officer, while the company conducts an internal and external search for a successor.
Stapleton returned to the company in 1990, holding “a series of financial roles with increasing responsibilities in manufacturing, labor, performance improvement and operations,” according to the company.
| Ticker | Security | Last | Change | Change% |
|---|---|---|---|---|
| GM | GENERAL MOTOR COMPANY | 28.52 | +0.54 | + 1.93% |
A GM spokesman said Stapleton has worked around the world in key leadership roles in manufacturing finance, unique contract negotiations, and large-scale restructuring, including GM of Canada in 2008 and CFO of Global Manufacturing in 2013.
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The move comes just weeks after the company reported a loss of $ 758 million, as an adjusted 50 cents per share, for the second quarter, compared to a profit of $ 2.4 billion a year ago. General Motors’ net revenue totaled $ 16.8 billion, 53 percent down-year-over-year.
“Clearly the second quarter was a challenge, but we reached near EBIT-adj. in North America, despite the loss of 8 of 13 weeks of production, “said Suryadevara.” These results illustrate the resilience and representativeness of the company as we make the critical investments necessary for our future. “
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