Ray Young – General Motors Chief Financial Officer – will reportedly step down from his current post as the automaker’s new board continues to shake up the company’s financial operations. Young is expected to exit the company in the coming weeks.
Young, 47, took over as GM CFO in March 2008, but has not meshed well with President Obama’s auto task force over the last few months. Young most recently stated that GM would not disclose its financial information due to its private status, but GM quickly refuted that statement by saying it “intends to make regular disclosures during the period it is private in order to provide appropriate information regarding our financial condition.”
The news of Young’s departure comes as GM’s board holds a two-day meeting to discuss the future of the company’s German Opel division, according to The Detroit News. Although Young is the first executive earmarked for departure, several more could be in the works.
Young began his career with GM in 1988 with the company’s Canadian financial arm. Young moved around GM’s global operations – working in Europe, Japan and Brazil – before returning to the U.S.
