Long expected to leave the automaker after helping guide it through its brush with bankruptcy, Chief Financial Office Ray Young will instead stay on as part of General Motors new management team. But the Chinese-born CFO will now head over to GM’s critical International Operations.
A new CFO is expected to be brought on board within the next few weeks, according to a broad hint by Chairman and Acting Chief Executive Ed Whitacre, Jr. As IO’s new Vice President, Young will now focus his talents on managing the international units finances, along with other duties that will be “clarified in the near-term,” according to a GM news release.
The 47-year-old executive took on the CFO role in March 2008, replacing Fritz Henderson, himself a veteran from GM’s International Operations. Henderson went on to become Chief Executive Officer, in March of this year, replacing Rick Wagoner, who was ousted by the White House “auto czar.” (Henderson was himself fired, last month.) Young helped manage the tricky finances of a Chapter 11 filing but, shortly after GM emerged from bankruptcy, in July, it was announced that the executive would be leaving his post.