General Motors has named Chuck Stevens as its new chief financial officer, replacing current CFO Dan Ammann, who became the Detroit maker’s new president later this week as part of a broad management shift that sees Mary Barra become the new chief executive officer.
The move was approved by the GM board of directors which also restored the maker’s divided for the first time since July 2008, at a time when it was spiraling towards bankruptcy. Stockholders will receive a 30-cent dividend per share.
The announcements come just weeks before GM is expected to report its 16th straight quarterly profits, a string that began soon after its emergence from Chapter 11 protection with the help of a nearly $50 billion federal bailout. The U.S. Treasury last month sold off the last of its holdings in the maker – at a final loss of about $10 billion.