For all the criticism that’s been leveled at GM’s finance operation, the firm’s most recent CFOs have yet to pay much of a career price. Previous CFO Fritz Henderson was promoted to the CEO’s spot by the presidential auto task force, and Automotive News [sub] reports that current CFO Ray Young has just been named VP for International Operations. Young’s departure from GM’s finance unit has been something of a foregone conclusion since GM exited bankruptcy, with reports of his imminent departure in the Detroit papers of record going undenied, and a recent acknowledgment that a search was on for his successor. In light of GM CEO Ed Whitacre’s ongoing game of executive whack-a-mole, it was tempting to believe that Young was on his way out, but apparently GM CFOs are pre-sprayed with teflon.
Instead, Young will “lead the International Operations Finance organization, in addition to other international operating responsibilities that will be further clarified in the near term,” according to GM’s statement. With development-leading divisions like Opel and Daewoo gasping for cash, these international operations are now in as much or more trouble than GM’s well-bailed-out US operations. Whitacre may be keeping the GM lifer around with a strict house-cleaning mandate. Meanwhile, at last week’s Fastlane webchat, Whitacre noted that the search for a new CFO was nearing completion, and that Young’s successor could be named within the next several weeks.