External advisers called in by GM

Following the announcement of the retirement of financial controller, Paul
Schmidt, later this year and the decision of chief accounting officer Peter
Bible to step down on the 1 June, General motors has hired financial advisory
company AlixPartners to improve the company’s internal financial controls.

The company also said it would combine the controller and chief accounting
officer roles into one position and is searching outside the company for a

GM chief financial officer Frederick Henderson said in a statement that the
company was moving ‘quickly to make sure that we have a robust level of internal
controls and systems in place’.

Earlier this year, GM restated financial results from 2000 through 2004
because of a litany of accounting errors.

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