General Motors CFO Resigns, Lured Away by E-Commerce Boom Opportunity

Dhivya Suryadevara, General Motors’ chief financial officer, is on the way out. After helping the automaker weather its worst storm since the 2008 recession and concurrent bankruptcy, Suryadevara announced her resignation Tuesday, effective August 15th. She’s leaving for a non-automotive position at Stripe, a San Francisco-based financial services and software company.

GM’s first female finance boss, Suryadevara took on the role in 2018, but the pandemic that rocked the auto industry this year also created new opportunities elsewhere.

Stripe provides payment processing software for companies’ e-commerce websites — a service suddenly in high demand as virus-fearing consumers shun storefronts in favor of online purchases.

“Dhivya has been a transformational leader in her tenure as CFO,” said GM CEO Mary Barra in a statement. “She has helped the company strengthen our balance sheet, improve our cost structure, focus on cash generation and drive the right investments for our future. We wish her every success.”

In a message posted to her LinkedIn account, Suryadevara described the “mixed emotions” she felt leaving her home of nearly 15 years, adding that while boosting Stripe’s fortunes (as well as that of the e-commerce scene’s) will be her new mission, she’ll be “cheering… from the sidelines” for GM.

Stepping into the CFO role on an interim basis, effective August 31st, is John Stapleton, who currently serves as GM North America’s chief financial officer. While Stapleton has occupied the post since 2014 after joining the automaker in 1990, the company says it will conduct “an internal and external search” for Suryadevara’s permanent replacement.

[Images: Phil K/Shutterstock]