General Motors vice chairman and CFO Chris Liddell announced on March 10 that he will leave the company April 1, 2011. Liddell, 52, joined GM in January, 2010 and led the company's financial and accounting operations on a global basis.
"Chris was a major contributor during a pivotal time in the company's history," said Dan Akerson, GM chairman and CEO. "He guided the company's IPO process and established a good financial foundation for the future."
In addition to the successful IPO, Akerson recognized Liddells leadership over the last year noting four quarters of sustained profitability, a strengthened balance sheet and the elimination of material weakness in the financial reporting process.
Dan Ammann will succeed Liddell as General Motors chief financial officer, effective April 1, 2011. Ammann, 38, is currently GM vice president, finance and treasurer.
"I came to General Motors to be part of something great," said Liddell. "My objective was to help rebuild this iconic company and I am particularly pleased that through this process, we have also developed a strong successor in Dan Ammann."
Ammann has played a major role in the key financial decisions at the new GM. He has been actively engaged in setting the financial strategy and reducing debt. Ammann was also integral in the IPO process, GM said.