Indian-American woman to become CFO of US carmaker GM

Agencies
June 14, 2018

Houston, Jun 14:  An Indian-American woman, Dhivya Suryadevara has been named the Chief Finance Officer of the US' largest automaker, General Motors.

Suryadevara, currently the vice president of corporate finance, will succeed Chuck Stevens, the GM's present CFO, on September 1, the company said in a statement.

Chennai-born Suryadevara, 39, has been GM's vice president of corporate finance since July 2017. She will report to Chief Executive Officer (CEO) Mary Barra, 56, who has been head of the automaker since 2014.

Barra and Suryadevara are the first women in their respective positions in the auto industry, as no other major global automaker has a female CEO, nor a CEO and CFO who are both female.

GM will join a very short list of S&P 500 companies, including Hershey Co. and American Water Works Co., with women serving as CEO and CFO.

Suryadevara earned her bachelor's and master's degrees in commerce from the University of Madras in the southern Indian town of Chennai. She moved to the US at the age of 22 to pursue her MBA from Harvard University.

She is a chartered financial analyst and accountant, and worked at UBS and PricewaterhouseCoopers before joining the Detroit-based GM in 2005 at the age of 25.

"Dhivya's experience and leadership in several key roles throughout our financial operations positions her well to build on the strong business results we've delivered over the last several years," Barra said in a statement.

Stevens, 58, has been CFO at the largest US automaker since January 2014 and will retire in March next year as a more than 40-year veteran of the company.

He will remain with the company as an adviser until his retirement, the statement said.

Stevens began at the Buick division in 1978 and, like Barra, was educated at General Motors Institute, which became Kettering University. He had a key role in GM establishing its joint venture in China with SAIC Motor Corp. and was a crucial player in GM selling its long-struggling Opel business to French automaker PSA Group.

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News Network
June 29,2020

Karachi, Jun 29: Four heavily-armed militants attacked the busy Pakistan Stock Exchange on Monday morning, killing four security guards and a police sub-inspector before being shot dead in an exchange of fire, media reports said.

The unidentified militants opened indiscriminate fire and lobbed hand grenades at the main gate of the building as they tried to storm it, Geo News reported.

Police said that all the terrorists have been killed while five persons injured in the attack.

Four security guards and a police sub-inspector were also killed in the attack.

"An unfortunate incident took place at the Pakistan Stock Exchange. They made their way from our parking area and opened fire on everyone," said Abid Ali Habib, Director of Pakistan Stock Exchange.

The firing by militants caused panic among the people in the building.

Sindh province Governor Imran Ismail condemned the incident.

"Strongly condemn the attack on PSX aimed at tarnishing our relentless war on terror. Have instructed the IG & security agencies to ensure that the perpetrators are caught alive & their handlers are accorded exemplary punishments. We shall protect Sindh at all costs," he said on Twitter.

Police and rangers have arrived on the spot and surrounded the area.

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News Network
April 27,2020

London, Apr 27: British Prime Minister Boris Johnson returns to work on Monday more than three weeks after being hospitalised for the coronavirus and spending three days in intensive care.

Johnson, one of the highest-profile people to have contracted the virus, returned to 10 Downing Street on Sunday evening and will chair a meeting on Monday morning of the coronavirus "war cabinet", his colleagues confirmed.

Dominic Raab, the foreign secretary who has deputised in Johnson's absence, told the BBC on Sunday that his return would be a "boost for the government and a boost for the country".

Raab also claimed the prime minister was "raring to go".

Johnson, 55, was admitted to hospital on April 5 suffering from "persistent symptoms" of the deadly disease.

His condition worsened and he later admitted after being put in intensive care that "things could have gone either way".

He was discharged on April 12 and has been recuperating at his official residence, west of London.

In a video message after leaving hospital, Johnson thanked "Jenny from New Zealand and Luis from Portugal" for helping him recover.

On medical advice, he has not been doing official government work during his convalescence but has spoken to Queen Elizabeth and US President Donald Trump on the phone.

The British leader was diagnosed with the virus late last month but initially stayed at Downing Street and was filmed taking part in a round of applause for health workers in the days before he went to hospital.

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News Network
April 12,2020

Apr 12: India and other South Asian countries are likely to record their worst growth performance in four decades this year due to the coronavirus outbreak, the World Bank said on Sunday.

The South Asian region, comprising eight countries, is likely to show economic growth of 1.8 per cent to 2.8 per cent this year, the World Bank said in its South Asia Economic Focus report, well down from the 6.3 per cent it projected six months ago.

India's economy, the region's biggest, is expected to grow 1.5 per cent to 2.8 per cent in the fiscal year that started on April 1. The World Bank has estimated it will grow 4.8 per cent to 5 per cent in the fiscal year that ended on March 31.

"The green shoots of a rebound that were observable at the end of 2019 have been overtaken by the negative impacts of the global crisis," the World Bank report said.

Other than India, the World Bank forecast that Sri Lanka, Nepal, Bhutan and Bangladesh will also see sharp falls in economic growth.

Three other countries - Pakistan, Afghanistan and the Maldives - are expected to fall into recession, the World Bank said in the report, which was based on country-level data available as of April 7.

Measures taken to counter the coronavirus have disrupted supply chains across South Asia, which has recorded more than 13,000 cases so far - still lower than many parts of the world.

India's lockdown of 1.3 billion people has also left millions out of work, disrupted big and small businesses and forced an exodus of migrant workers from the cities to their homes in villages.

In the event of prolonged and broad national lockdowns, the report warned of a worst-case scenario in which the entire region would experience an economic contraction this year.

To minimize short-term economic pain, the Bank called for countries in the region to announce more fiscal and monetary steps to support unemployed migrant workers, as well as debt relief for businesses and individuals.

India has so far unveiled a $23 billion economic plan to offer direct cash transfers to millions of poor people hit by its lockdown. In neighbouring Pakistan, the government has announced a $6 billion plan to support the economy.

"The priority for all South Asian governments is to contain the virus spread and protect their people, especially the poorest who face considerable worse health and economic outcomes," said senior World Bank official Hartwig Schafer.

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