GM chief financial officer resigns unexpectedly

[CountAllVotes]

Source: Associated Press

DETROIT (AP) -- The chief financial officer of General Motors Co., who brought the company through a successful public stock offering and was once considered a candidate for CEO, is resigning as of April 1.

In a surprise announcement Thursday, GM said that Chris Liddell, 52, will be replaced by Treasurer Dan Ammann. Liddell has been on the job for just 14 months.

During a hastily arranged conference call with reporters, Liddell said he had no job lined up, but doesn't want to be a chief financial officer any longer. He said he had achieved his goals of pulling off GM's IPO, fixing its accounting problems and getting the company back on sound financial footing.

The move is another in a series of management changes that started soon after GM emerged from bankruptcy protection in July of 2009. The company has had four CEOs in less than two years, and it recently changed its top sales, marketing, product development and engineering executives.

Read more: http://finance.yahoo.com/news/GM-chief-financial-officer-apf-3252837708.html?x=0&sec=topStories&pos=1&asset=&ccode=

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I guess Ally Bank hasn't pulled GM Financial Services out of the deep hole they are in. This whole thing stinks. GM/Cerberus and J. Ezra Merkin, we barely knew ye!

:dem:

[Sanity Claws]

1. Perhaps he didn't want to sign the financial statement

I don't know GM's fiscal year but a quarterly report is probably due soon, even if the annual report isn't.

[Yo_Mama]

2. That's my thought

That's why investors take this sort of thing seriously.

[Lance_Boyle]

3. What's his retirement package for 14 months' service look like?

How much are we, the taxpayer-owners of GM, paying this clown?

[SkyDaddy7]

4. How do you know he is a "clown"?

Seriously, I would love to know what you know to make that sort of judgement on this man's character. Everything points to him doing a very good job while he was with GM...You could even say he helped save the company which helped save many middle class jobs. I think there is more evidence for that than what you said...Please educate me if i am wrong.

[Lance_Boyle]

5. He's the Sarah Palin of CFOs - a quitter and most definitely a CLOWN.

"I just don't want to be a governor CFO anymore..."

So just how golden is his parachute?

[truthisfreedom]

6. He is no Sarah Palin. Have you ever run a business? He's most likely being prudent

and avoiding doing anything illicit.

[No Elephants]

7. He's been there 14 months. If somethng illicit is going on, did he just find out about it and

has he informed the authorities?

a CFO of a publicly traded company doesn't do his duty by simply resigning.