A Reuters profile of General Motors CFO Dan Ammann says the finance chief is pushing for change at a company that critics argue is hopelessly inefficient. Although GM has emerged from bankruptcy, its stock trades under $20 and its operating margin trails those of its competitors.
Ammann suggests he’s looking to increase efficiency and eliminate the competition among GM’s units. The former Morgan Stanley investment banker joined GM as treasurer in 2010 after the company’s finance department came under fire for its failings during the 2009 bankruptcy filing. He was named CFO in 2011.
The story notes that Ammann tries to distance himself from the “bean counters,” in part by driving his Corvette Z06 around GM’s test track at a speed of up to 150 miles per hour. Ammann is one of just 30 GM executives certified to drive at high speeds at the track.
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