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GM said to be looking outside
GM said to be looking outside for new finance chief, team
Posted Tuesday, Oct 27, 2009, 2:40 pm in Employee News
General Motors Co. Chief Executive Officer Fritz Henderson will step up efforts to hire outsiders for chief financial officer and other positions in the department the former auto task force chief called the “weakest,” said people familiar with the matter, Bloomberg reported.
The Detroit automaker is recruiting for CFO and dozens of open lower-level jobs, said the people, who asked not to be identified because the plans are private, the news service said. CFO Ray Young, who succeeded Henderson and reports to him, is expected to be reassigned to help run GM’s international operations, three of the people told Bloomberg.
Henderson can speed up hiring after Kenneth Feinberg, the government’s special master on pay, unveiled restrictions Oct. 22 for GM and six other companies that received a taxpayer rescue, the article noted. The GM CEO’s cash salary was cut 25 percent, a person familiar with the matter said. His total compensation rose fourfold because he was granted stock and restricted stock, the story said. (Bloomberg)
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