General Motors announced in March that its CFO and vice chairman, Chris Liddell, was stepping down. The automaker promoted Daniel Ammann, its treasurer and vice president of finance, to fill the spot of finance chief.
Ammann, 38, will be GM's fourth CFO in three years. He joined the company in April 2010 after working for 11 years as an investment banker at Morgan Stanley, where his final position was head of industrial investment banking. Like Liddell, he is a native of New Zealand.
Liddle, 52, served as GM's CFO for just over a year, but in that time, he presided over the company's emergence from bankruptcy, its $23 billion IPO and its return to profitability.
Prior to signing on at GM in January 2010, Liddell was CFO at Microsoft from 2005 to 2009 and at International Paper from 2003 to 2005.
When GM hired Liddell, he was reportedly among the candidates for the CEO job that eventually went to Dan Akerson. The day Liddell's departure was announced, he told reporters that as he contemplates his next career move, "I have a number of interesting ideas, but none of them has CFO on it."