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GENERAL MOTORS CORPORATION (GM)
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General Motors : U.S. automaker GM names Suryadevara CFO to succeed Stevens

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06/13/2018 | 04:36pm CEST
FILE PHOTO -  GM's Stevens speaks at press conference at the North American International Auto Show in Detroit

(Reuters) - General Motors Co said on Wednesday Dhivya Suryadevara, currently vice president of corporate finance, will succeed Chuck Stevens on Sept. 1 as chief financial officer of the No. 1 U.S. automaker.

Suryadevara, 39, has played an integral role in some significant deals GM has made as it has restructured operations over the past several years, including the divestiture of the company's European arm Opel and the acquisition of self-driving vehicle startup Cruise. She played a role in securing earlier this month a $2.25 billion investment in GM Cruise by Japanese tech giant SoftBank Group Corp, GM said in a statement.

During her 13 years with the Detroit-based company, Suryadevara helped achieve ratings upgrades from all three credit ratings agencies, completed $2 billion in notes issuance to fund discretionary pension contributions and upsized and renewed GM's $14.5 billion revolving credit facility, the company said.

She was named vice president, corporate finance, in July 2017, a job that included overseeing investor relations.

Stevens will remain with the company as an adviser until his retirement in March, the company said. Stevens has worked at GM for 40 years and became CFO in January 2014. (http://bit.ly/2LKwgDK)

"We expect a smooth transition and status quo on the strategy," RBC Capital Markets analyst Joseph Spak wrote in a note on Wednesday.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D'Silva, Joseph White and Will Dunham)

By Ankit Ajmera

Stocks treated in this article : SoftBank Group Corp, General Motors Corporation
Stocks mentioned in the article
ChangeLast1st jan.
GENERAL MOTORS CORPORATION -0.76% 36.005 Delayed Quote.-11.47%
SOFTBANK GROUP CORP -1.82% 9985 End-of-day quote.8.30%
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Financials ($)
Sales 2018 145 B
EBIT 2018 10 162 M
Net income 2018 7 244 M
Finance 2018 4 830 M
Yield 2018 4,36%
P/E ratio 2018 5,57
P/E ratio 2019 6,06
EV / Sales 2018 0,32x
EV / Sales 2019 0,31x
Capitalization 50 707 M
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Technical analysis trends GENERAL MOTORS CORPORATION
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 46,1 $
Spread / Average Target 27%
EPS Revisions
Managers
NameTitle
Mary Teresa Barra Chairman & Chief Executive Officer
Daniel Ammann President
Charles K. Stevens Chief Financial Officer & Executive Vice President
Randall D. Mott Chief Information Officer & Senior Vice President
Patricia Fiorello Russo Independent Director
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