General Motors CFO Dhivya Suryadevara Stepping Down; Joins Online Payments Group Stripe

Dhivya Suryadevara, the highly visible CFO of General Motors, is leaving the company later this month.

General Motors Co.  (GM) - Get General Motors Company (GM) Report said Tuesday that chief financial officer Dhivya Suryadevara will leave the company to pursue a new role with the online payments group Stripe.

Suryadevara, 40 and the company's first woman CFO, will be replaced by GM North America boss John Stapleton on August 15, the company said in a statement. 

"Dhivya has been a transformational leader in her tenure as CFO," said CEO Mary Barra. "She has helped the company strengthen our balance sheet, improve our cost structure, focus on cash generation and drive the right investments for our future. We wish her every success."

"I am grateful for the opportunities I have been given at," said Suryadevara. "While I look forward to a new opportunity that will allow me to apply my skills in a new sector, I have great confidence in trajectory and future."

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GM shares were marked 3.3% higher in early Tuesday trading, in line with other automakers following news of stronger-than-expected car sales in China earlier this morning, to indicate an opening bell price of $28.90 each.

Last month, GM posted a smaller-than-expected second quarter loss as cost cuts and higher-margin sales of pickups and SUVs offset slumping China sales and coronavirus-triggered shutdowns in the U.S. and elsewhere. 

GM's net loss was pegged at 56 cents per share, a big swing from last year's $1.66 per share profit but still better than the Street consensus forecast of a $1.77 per share loss.

Suryadevara also said at the time that GM is still "watching the virus, the economy and its impact on the overall industry very closely", and expressed confidence that, barring any further U.S. shutdowns, the automaker would be able to generate enough cash to cover an pending $16 billion loan repyament.