The Truth About Cars » Ray Young http://www.thetruthaboutcars.com The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. Thu, 17 Jul 2014 13:00:55 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.1 The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. The Truth About Cars no The Truth About Cars editors@ttac.com editors@ttac.com (The Truth About Cars) 2006-2009 The Truth About Cars The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. The Truth About Cars » Ray Young http://www.thetruthaboutcars.com/wp-content/themes/ttac-theme/images/logo.gif http://www.thetruthaboutcars.com GM Names Chris Liddell As CFO http://www.thetruthaboutcars.com/2009/12/gm-names-chris-liddell-as-cfo/ http://www.thetruthaboutcars.com/2009/12/gm-names-chris-liddell-as-cfo/#comments Mon, 21 Dec 2009 18:41:12 +0000 http://www.thetruthaboutcars.com/?p=339835 Liddell (center) gets pumped for the exchange of goods and services

GM’s embattled finance department is getting new blood today, as The General has poached Microsoft’s Chris Liddell to take over as Chief Financial Officer. GM’s CFO position is being vacated by Ray Young, who was rumored to be on his way out as far back as last summer. Young will become a VP for international operations. The 51 year old Liddell has been Microsoft’s CFO since 2005, and is (irony of ironies) best known for reducing the software giant’s legendary cash position through buybacks and dividends. The Wall Street Journal estimates Liddell oversaw the return of $14b to Microsoft stockholders last fiscal year alone.

Though he was only modestly successful at boosting Microsoft’s stock price, he does have another qualification, explained to the WSJ by ISI Group analyst Bill Whyman

He labored under a dominant personality who has a challenging relationship with the investor community

Which sounds like good experience for life under Ed Whitacre. But unless Liddell demonstrates some serious stock price mojo, he won’t last long. GM’s major goal over the next several years will be pulling off an IPO that will both provide the company with working capital and (in theory anyway) pay off some portion of its taxpayer obligations. On behalf of America’s taxpayers, we wish him the best of luck with that.

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GM CFO Young Named VP for International Operations http://www.thetruthaboutcars.com/2009/12/gm-cfo-young-named-vp-for-international-operations/ http://www.thetruthaboutcars.com/2009/12/gm-cfo-young-named-vp-for-international-operations/#comments Mon, 14 Dec 2009 15:00:31 +0000 http://www.thetruthaboutcars.com/?p=339030 Another lifer sticks around

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.

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