By Dow Jones Business News,
January 14, 2014, 06:41:00 PM EDT
By John Kell
General Motors Co. has named insider Chuck Stevens to its chief financial officer post, an appointment that comes
roughly a month after the company tapped product chief Mary Barra as its next chief executive.
The shifts at the top of the Detroit auto maker's executive suite come after the Treasury Department sold its final
shares in the company last month. That move made it much easier for GM to issue its first quarterly dividend since May
2008--which the company also announced today--and select new top executives with greater freedom to pay market
compensation, which the government had restrained for several years.
Mr. Stevens will succeed Dan Ammann, who becomes company president on Wednesday. Mr. Stevens previously served as
chief financial officer of GM's North America division. He first joined the company in 1983, at Buick, and also held
leadership positions in several markets abroad.
Mr. Stevens, 54 years old, became chief financial officer of GM North America in early 2010. In that position, he
led GM's financial operations for U.S. sales, as well as in Canada and Mexico and several other divisions.
John Stapleton, currently chief financial officer of GM global manufacturing, with succeed Mr. Stevens in his prior
GM's new executives will lead a company that has rebounded from its 2009 government-funded bankruptcy but still
faces significant challenges. Still, GM sold 9.71 million vehicles globally last year, a 4% increase over 2012, as
robust U.S. and China demand offset softness in Europe.
GM's shares were up 3% to $41.21 in after-hours trading.
Write to John Kell at firstname.lastname@example.org
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