Top industry executive, General Motors' Suryadevara, jumps to tech startup Stripe

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 71 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

General Motors Co said on Tuesday Chief Financial Officer Dhivya Suryadevara was stepping down to pursue an opportunity outside the company after ...

REUTERS: One of the U.S. auto industry's youngest and highest-ranking executives, General Motors Co's chief financial officer Dhivya Suryadevara, jumped ship on Tuesday for Silicon Valley and the technology sector, where she was named CFO of Stripe, the online payments startup.

Suryadevara's journey from the Midwest to California underscores the chasm between old school manufacturing and new age tech.Stripe was founded in 2009; GM is 100 years older. GM reported revenue of US$137 billion last year; Stripe in 2018 reported revenue of US$529 million. GM has 164,000 employees; Stripe has 2,800. GM has a market cap of US$42 billion; Stripe is valued at US$36 billion, according to investor website PitchBook, and has raised nearly US$2 billion from investors.

Suryadevara, who was GM's CFO for just under two years, was held in high regard by Wall Street analysts, who had speculated on her potential to secure a chief executive officer position outside the auto industry.Stripe did not say how much she would be paid.In a statement on Tuesday by Stripe, Suryadevara said:"I really enjoy leading complex, large-scale businesses and I hope to use my skills to help accelerate Stripe’s already steep growth trajectory.

GM named John Stapleton, currently CFO of North American operations, as acting global finance chief, effective Aug. 15. Stapleton joined GM in 1990 and has held a series of finance roles in the company. Suryadevara succeeded Chuck Stevens as GM's CFO in September 2018. Before that, she was vice president of corporate finance. She joined GM in 2004 as a senior financial analyst in the Treasurer's Office.Source: Reuters

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines