GM has appointed Ashish Kohli as the new Vice President, Investor Relations. Kohli previously served as Global Head of Investor Relations at Chipotle Mexican Grill, and offers experience in investor relations across multiple industries.
Per an announcement from GM, Ashish has been recognized as the top-ranking professional in several Institutional Investor categories, such as Best Analyst Day, Best IR Program, Best IR team, and Best Crisis Management. Over the past three years, Chipotle stock value has appreciated more than 115 percent.
“Ashish’s breadth of experience and leadership skills will be an asset to conveying GM’s vision and strategy as well as building continued relationships with the investor community,” GM stated.
GM stock value has fallen considerably over the course of the 2022 calendar year, dropping from an opening value of $59.87 per share on January 3rd to an opening value of $46.02 per share on March 1st.
Some of the latest factors influencing GM stock value include the ongoing conflict in Ukraine, with GM indicating that it will suspend its business in Russia, although General Motors does not have an extensive presence in the region. GM has also announced that it will donate $250,000 towards Ukrainian refugee relocation efforts.
Early last month, investment banking company Morgan Stanley downgraded GM stock from overweight to equal weight, cutting the price target from $75 per share to $55 per share. As a result, GM stock value fell sharply, dropping 5.5 percent to $48 per share.
By comparison, GM stock value hit an all-time record high earlier this year following a series of announcements at the 2022 Consumer Electronics Show (CES). During the show, GM CEO Mary Barra delivered a keynote speech outlining the automaker’s efforts in electric vehicle technology and autonomous vehicle technology. General Motors also unveiled the 2024 Chevy Silverado EV, an all-electric variant of the popular light duty pickup truck, as well as the Cadillac InnerSpace, a fully autonomous luxury concept. During the show, GM stock value rose to a record-high of $67.21 per share.