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]
Good for her. Stripe sounds like more rewards with fewer headaches.
Me thinks Suryadevara would rather not be part of the ‘GM electrical/autonomous vehicle segment spin-off prep for bankruptcy,’ as you have pointed out GM is prepping for. Nor does she want to contend with the low-valuation-embarrassment of said spin-off.
(Nor be part of the future Chinese takeover of the rest of GM, for that matter.)
On the bottom levels, my sources tell me that 30-40% of the new, entry level salaried hires are leaving for greener pastures in less than five years, too.
Your sources, plural? How many crystal balls and ouija boards do you have?
Men usually have two.
He saw the writing on the wall and the ship taking on water. So he made the logical move – get out of Dodge (no pun intended).
Rats leaving the sinking ship.
This is what you get when you have CEO only concerned about “shareholder value”. It seems every time Mary Barra makes a public statement she mentions shareholder value.
With the exception of a few vehicles I cannot think of one GM product I would want to buy.
It’s encouraging to see a “rising star” truly be that smart, see the light, and get the hell out. Just like the new, fresh hires.
It’s discouraging to see the venomous GM culture send dissenters away, who where originally hired as change agents.
John Stapelton taking over? Nothing to see here; another GM Lifer. Downward-trend business as usual.
Toyota could buy GM for cash on hand, but why, when your competition, GM, is slowly self-destructing for free.
Got any stories about GM’s venomous culture? Is GM a sinking ship and will Marry go down with the ship?
Yes
At this point I would like to see a well-trained former Toyota executive run GM. I don’t mean the guy currently running Ford.
GM will probably not die, but will live on in perpetual mediocrity. I have come to terms with GM mediocrity years ago.