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General Motors CFO Chuck Stevens is retiring

Key Points
  • Stevens has been with GM for more than 40 years in roles around the world.
  • He will be replaced by Dhivya Suryadevara, GM vice president of corporate finance.
  • Suryadevara has been instrumental in key deals, including the recent Softbank investment in Cruise.
GM shares will double in two years: Analyst

General Motors CFO Chuck Stevens is retiring after spending more than four decades at the automaker.

The largest U.S. automaker has appointed Dhivya Suryadevara, vice president of corporate finance, to replace him on Sept. 1.

Stevens, 58, will stay on as an adviser until his official retirement date of March 1.

The change comes as GM is making big moves in autonomous driving and electrification, two technologies that are considered key to the future of transportation around the world. Detroit firms are trying to prove to investors they are pursuing new business just as aggressively as tech industry firms and start-ups in Silicon Valley and elsewhere in the world.

Dhivya Suryadevara named new Chief Financial Officer of GM.
Source: GM

Suryadevara, 39, played a key role in Softbank's investment in GM's autonomous driving subsidiary, Cruise Automation. She was also involved in the acquisition of Cruise in 2016, was integral to GM's investment in ride-hailing company Lyft and in the sale of GM's European brand Opel to French carmaker PSA. She joined GM in 2005.

"It's great to see promotion from within, and Suryadevara is clearly a rising star in the company," said Kelley Blue Book senior analyst Rebecca Lindland. "Adding another talented, smart female to the executive leadership team reminds women that engaging opportunities continue to open up in automotive boardrooms."

Mary Barra has been GM CEO since 2014.

Stevens has been CFO since 2014. Throughout his long career with the company, he held regional CFO positions for North and South America, and leadership roles in several Asian countries, such as China, Singapore, Indonesia and Thailand. His tenure at GM began in 1978, when he went to work for Buick.

Shares of GM were flat in late morning trading.