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NINETY EIGHT REGENCY

GM CFO Ray Young named VP International Operations

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GM CFO Ray Young named VP International Operations

AUTOMOTIVE NEWS EUROPE

DECEMBER 14, 2009 13:25 CET

DETROIT -- Ray Young, whose future as General Motors Co.'s finance chief has been uncertain for months, was today named vice president of international operations.

GM said Young, 47, will lead the unit's finance activities and have other roles “clarified in the near term.”

Young will report to GM International President Tim Lee beginning Feb. 1. Lee was named head of GM's international operations based in Shanghai earlier this month. He succeeded Nick Reilly, who was appointed GM Europe president and Opel CEO.

Lee and Young will oversee GM's Asia, Latin America, Africa and Middle East operations.

Young will remain CFO until a successor is named.

“Ray has been instrumental in leading the company through an extraordinarily complex bankruptcy,” Chairman and interim CEO Ed Whitacre said in the statement. “Ray's vast global experience and financial expertise will be essential in managing the challenges and dynamics of growing our international business.”

Press reports since summer have said GM was looking to replace Young. Whitacre told reporters last week that GM has “a real good candidate” for a new CFO and could have news about the appointment in two or three weeks.

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