Top industry executive, General Motors’ Suryadevara, jumps to tech startup Stripe By Reuters

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


© Reuters. The GM logo is seen at the General Motors Assembly Plant in Ramos Arizpe

(Reuters) – One of the U.S. auto industry’s youngest and highest-ranking executives, General Motors Co’s (N:) 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 $137 billion last year; Stripe in 2018 reported revenue of $529 million. GM has 164,000 employees; Stripe has 2,800. GM has a market cap of $42 billion; Stripe is valued at $36 billion, according to investor website PitchBook, and has raised nearly $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.

Her GM compensation package last year totaled $6.8 million.

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.

GM said it would conduct internal and external searches for a permanent successor to Suryadevara.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *


About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.


CONTACT US

CALL US ANYTIME