General Motors to lose finance chiefs

General Motors to lose finance chiefs

Struggling carmaker loses top two finance officers

General Motors will lose its top two financial officers before the end of the
year, the struggling company has announced.

Chief accounting officer Peter Bible, 48, will resign on 1 June after almost
10 years on the job, while financial controller Paul Schmidt, 61, will retire
later this year once a successor can be found.

Bible is leaving for ‘personal reasons’ while GM said Schmidt’s retirement
was planned ‘for some time’.

The changes come as the SEC and a federal grand jury investigate GM over
precious- metal transactions and credits from suppliers, and after GM restated
its 2000 to 2004 results on 28 March this year because of accounting errors.

The news saw GM shares plunge 6% within 30 minutes of the announcement.

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

6m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

10m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

1y Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor