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After moving Ray Young to head up finance at GM’s International operations, The General was left without a CFO. That’s all about to change, as Chris Liddell has just been appointed vice chairman and chief financial officer of General Motors.
Liddell has been CFO of Microsoft since May of 2005. He will be leaving the software giant on December 31 of this year and will start with GM in 2010. CEO and chairman Ed Whitacre had the following to say about Liddell joining GM:
Chris brings a depth and experience to this job that were unmatched in our search for a new financial leader. Chris will lead our financial and accounting operations on a global basis and will report directly to me. We’re also looking to his experience and insights in corporate strategy as a member of the senior leadership team in helping our restructuring efforts.
While at Microsoft, Liddell was responsible for leading its worldwide finance organization, which included overseeing acquisitions, corporate strategy, treasury activities, tax planning, accounting and reporting, internal audit, and investor relations. Prior to joining Microsoft, the New Zealand native was CFO at International Paper Co., the world’s largest forest products company, having similar responsibilities to those at Microsoft. He was also CEO of Carter Holt Harvey Ltd., New Zealand’s second-largest listed company during his tenure. Liddell also worked as an investment banker as managing director and joint CEO for CS First Boston NZ Ltd.
Liddell, 51, holds an engineering degree with honors from the University of Auckland, New Zealand, and a Master of Philosophy degree from Oxford University in England.
Even prior to his tenure with Microsoft, Liddell was regarded as a very prudent and successful businessperson. GM needs someone with proper experience and know-how to perform the duties of CFO, and Liddell looks to be the right man for the job. Even though he may not be a “car guy” (something we don’t know for sure), GM needs people with proper business sense who can bring the company to profitability. Having Liddell as CFO and vice-chairman of the board will help make that goal a reality that much faster. We just hope there aren’t any surprises along the way.
Check out GM’s press release after the jump! (more…)
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For Monday, December 21, 2009
- Saab May Not Be Dead Yet: Spyker Submits 11th-Hour Bid That Removes Impasse With GM
- Saab Twists And Turns: GM Receives Offers For Saab After Announcing Wind-Down Of Brand
- Spyker Extends Eleventh-Hour Rebid For Saab Indefinitely
- Cadillac’s Plans For NAIAS 2010: All-New Concept And CTS-V Coupe
Cadillac has just revealed its plans for the 2010 North American International Auto Show – a new concept and the production-intent version of the stunning CTS-V Coupe.
As is standard practice, we weren’t given any info about the concept (pictured above) – but we’ve been assured that it’s totally new and something we haven’t laid eyes on yet. The photo of the concept is fairly obscured by dark tones and shady angles, but if we look hard enough, we see four doors… or maybe that’s just the teaser playing mind tricks. Caddy says that its “latest concept advances the brand’s Art & Science philosophy.” So what do we think it is?
Since it has four doors, we’re guessing it to be either the ATS compact (3-series fighter) or the XTS large sedan, both of which have been confirmed by GM during this summer’s media preview. Whatever it will end up being, expect the concept to be high in performance or environmental friendliness – or even both!
In addition to the mysterious concept, Cadillac will also unveil its production version of the gorgeous 2011 CTS-V Coupe. Expect all the fixin’s of a CTS V-spec model: 556 hp and 551 lb.-ft. of torque coming from the 6.2-liter supercharged LSA V8, available with your choice of six-speed auto or manual transmissions, sport-tuned suspension with MagneRide technology, and 19-inch alloys. Production of the CTS-V coupe is scheduled to begin in the summer of 2010 as a 2011 model.
Before the 2010 NAIAS begins, check out the high-resolution teaser of the concept (above). We also have GM’s short press release after the break. (more…)
Throw a stone and watch the ripples flow: following the announcement Friday that it will shut down Saab, GM has received a number of inquiries in relation to the Swedish auto maker.
Besides for Spyker’s revised offer early Sunday morning, we don’t know who else sent in a proposal/offer, but whoever did has prompted GM to issue the following statement:
Following Friday’s announcement that GM will begin the orderly wind down of Saab, GM has received inquiries from several parties. We will evaluate each inquiry. We will not comment further until these evaluations have been completed.
Looks like there’s hope for Saab after all! That’s good news for all Saab fans, employees, and enthusiasts (this humble blogger included).
GM is in the process of launching a new customer sales, service, and retention tool that will have the ability to reach out to consumers over 30 times during their ownership of a vehicle.
We’ve learned that the project is being spearheaded by Susan Docherty, GM North America vice president of Sales, Support, and Marketing. During a web chat last week, Susan wrote that “The purchase of a vehicle is only the beginning of GM’s interest in building a relationship with customers.”
We applaud GM’s effort to better connect with consumers and increase the use of technology in doing so. In fact, consumer “touchpoints” are increasingly becoming crucial in selling a vehicle: it’s important to connect with a potential customer even before s/he decides it’s time for a new vehicle and carry that connection all the way through the time the vehicle reaches 100,000+ miles. Undoubtedly, GM will use this tool to collect information and feedback from owners of its products, helping it align its vehicles with what customers demand.
Spyker is staying true to its Latin motto (that’s written on all of its cars): “Nulla tenaci invia est via,” which translates to “for the tenacious no road is impassable.” After GM’s announcement on Friday to begin the wind-down of Saab, Spyker just renewed its offer for the Swedish brand that it thinks removes any last hurdles for the deal to go through.
Spyker CEO Victor R. Muller said that a proposal has been submitted to GM addressing the 11 issues that arose during the due diligence process and that the renewed offer would remove each of the obstacles standing in the way of a successful transaction.
We don’t know what each of those eleven issue are, but if a report in a Swedish paper is to be believed (translation), Nick Reilly (chief of GM Europe) cited intellectual property concerns related to Spyker’s Russian owner (30%), Alexander Antonov, as well as the desire of the GM board to be decisive on the matter of what will become of Saab. If you ask us, that second reason is no reason at all to close down a legendary global brand and put more than 4000 people out of work.
Spyker has set a deadline of 5pm Eastern time on Monday (December 21st, 2009) for GM to accept the offer (and walk away saving at least some face.)
On a related note, Spyker seems really excited to take ownership of Saab, citing benefits to both companies:
In Spyker’s view, the ownership of Saab by Spyker Cars would add a lot of value to both parties. For Spyker, Saab would bring a strong, global distribution network consisting of no less than 1100 dealers, state-of-the-art production facilities, a truly dedicated work force and solid engineering, sourcing and research & development capabilities. Likewise, Saab would receive the financial backing required to compete as a competitive global brand, along with an entrepreneurial leadership team sensitive to the uniqueness, heritage and individuality of the Saab brand. Throughout these negotiations, both Spyker and Saab leadership have proven that they share a mutual vision for just such a partnership.
Make sure you read Spyker’s press release after the jump, it’s well worth it!
Gallery: 2010 Saab 9-5
Last week, we reported that Buick-GMC was left without a general manager, since newly-hired Michael Richards resigned to reportedly pursue other opportunities (we’ve got the new scoop about that below). This week, GM put Brian. K. Sweeney in charge of the two brands. In his previous post, Sweeney served as general sales manager of Buick-GMC (since June 2008).
Susan Docherty, GM vice president of Sales, Service, and Marketing, had the following to say about the new appointment:
Brian has played a pivotal role in strengthening the Buick and GMC brands through his work with our dealers and marketing activities. He consolidated 13 different agencies to one dedicated partner to drive a consistent brand message, led the dealer network through a difficult transition and has earned a reputation for tirelessly driving results that benefit consumers.
Sweeney, 42, joined GM in 1990 as a district sales manager for GMC and has since then held numerous marketing leadership positions, including regional management positions in New York, Chicago, Atlanta, and Detroit. He has dedicated most of his career to Buick, Pontiac, and GMC, but also has experience at Cadillac, Chevrolet, and Saab (which is about to cease existing).
Docherty also named Jennifer Constable to Sweeney’s old post as general sales manager of Buick-GMC. Constable, 47, was regional sales and marketing manager of Cadillac in GM’s Southeast Region since November 2008. She will report to Sweeney.
Constable has been with GM for 25 years and has spent her career mostly in the field, working with dealers across the country – focusing on sales, service, and parts, improving dealer relations, productivity and marketing effectiveness, and developing the overall dealer network.
All changes are effective immediately.
At the present time, we don’t know more than the press release gives off about either Sweeney or Constable. We don’t know if Sweeney is much of a car guy, but having been in marketing, he may figure out for himself that Buick needs to go in a different direction than Cadillac and that GMC needs to stop diluting its brand. Constable seems to be a good fit, having spent most of her time in the field with dealers. You get to know the sales side of things pretty fast that way.
And about the 9-day-exec, aka Michael Richards: some little birdies have been telling us that the reason for his lighting-fast departure was actually a screw-up on GM’s part: he previously worked at Ford, where his style proved to be ineffective and outrageous. We wonder how his name even got past the reference check process with GM in the first place!
In case you’re interested, we have GM’s full presser after the break. (more…)
True GM fans have known this for a while, but Buick has now made it official: it will offer its 2.4L four-cylinder Ecotec in the LaCrosse CX trim early next year.
Mated to the same 6-speed gearbox as in the rest of the LaCrosse line, the 2.4L four-banger will produce 182 hp and 172 lb.-ft. of torque. Pending EPA certification, GM expects to net 30 mpg highway and 20 mpg city. Cold-start emissions are reduced by as much as 25 percent thanks to direct-injection technology.
Buick expects that a quarter of LaCrosse customers will opt for the 2.4L-equipped model, which will run for $26,995. In fact, offering the engine was mostly a no-brainer: the 2.4L is a carry-over from the upcoming Buick Regal and will lead to increased economies of scale for The General, all while contributing to meet CAFE regulations now and in the future. Currently, the Lacrosse can be purchased with two SIDI 6-cylinder engines, the 3.0L (255 hp and 217 lb.-ft. of torque) and the 3.6L (280 hp 259 lb.-ft. of torque).
This news comes in light of the all-new LaCrosse being nominated for the prestigious North American Car of the Year award.
Small engine, good numbers, and even better fuel economy: what’s not to like here? Based on my opinion of where Buick should be headed in serving the pure luxury customer, this is great news all around, since pure luxury is, well, just that – power is largely an afterthought in this market. Now if only the LaCrosse could win the NA Car of the Year… that would just be heaven.
We’ve got GM’s press release after the jump. (more…)
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For Friday, December 11, 2009
- All General Motors Brands Score Above Segment Average In 2009 JD Power Sales Satisfaction Index
- GM And China’s SAIC Form Joint Venture To Expand Presence In India… With No Apparent Benefit To GM
- GM Sells Controlling Stake Of China Operations To SAIC. Is It Worth It?
- 2012 Malibu To Join Volt (And Ampera) At Detroit-Hamtramck Plant
The 2010 Buick LaCrosse has been nominated for the North American Car of the Year award. It will join the 2010 Chevy Equinox and Camaro, along with the Cadillac CTS Sport Wagon (and SRX), as GM’s fifth vehicle in the contest. The winner will be announced January 11 at NAIAS.
To be eligible for the award, vehicles must be “all new” or “substantially changed” from the previous model. The jury for the 17th annual competition is comprised of 49 veteran automotive journalists who considered more than 50 vehicles for the award and narrowed it down to 16 cars.
The awards are designed to recognize the most exceptional vehicles of the year, based on criteria that includes innovation, design, safety, handling, driver satisfaction, and value for the dollar. It’s a real privilege to receive this award because “instead of being given by a single media outlet — they are given by automotive journalists from the United States and Canada who represent magazines, television, radio, newspapers and web sites.”
LaCrosse reviews by many publications have been extremely positive, including reviews written by jurists in the Car of The Year competition. Pulitzer Prize-winning auto critic Dan Neil (LA Times) wrote the following after test driving the new LaCrosse in August:
…no fair appraisal of this car can conclude anything but that the Buick is as good as or better than the Lexus in every way: It’s as dead quiet, as thoughtfully designed, as this-minute in its technology.
More importantly, the LaCrosse has been selling in great numbers, with sales up 238 percent in November compared with a year ago.
In the past, GM vehicles have been named the North American Car of the Year (NACY) eight times, more than European (four times) and Japanese (three times) competitors. Most recently, the Chevy Malibu was the 2008 NACY and the Saturn Aura was given the award in 2007. For the 2010 award, the LaCrosse is up against: (more…)
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