GM names Dhivya Suryadevara CFO to reinstate timid Chuck Stevens
UPDATED: 6/13/18 4:07 pm ET – adds details
DETROIT — The appointment of Dhivya Suryadevara as General Motors CFO will make it a usually automaker with a womanlike CEO and CFO — and one of dual Fortune 500 companies with women now in both those posts.
Suryadevara, 39, a Harvard Business School graduate, will attain Chuck Stevens as General Motors CFO on Sept. 1, GM pronounced Wednesday. Suryadevara has been GM’s clamp boss of corporate financial given Jul 2017.
She will news to CEO Mary Barra, 56, who has been conduct of a automaker given 2014. They will be one of usually a few womanlike CEO-CFO pairs in history. Both Barra and Suryadevara are a initial women in their particular positions during a automaker. No other vital tellurian automaker has a womanlike CEO, nor a CEO and CFO who are both female.
“General Motors has a bequest of firsts when it comes to minorities and women,” a association pronounced in a apart matter on Wednesday. “We’re unapproachable of it, and it is a substructure on that we’ll keep building. We still have some-more work to do, and we are dynamic to do it, a right way, for a prolonged term. This goal has no finish line.”
Suryadevara, a local of India, assimilated GM in 2005 and has given been a partial of many of a company’s essential business decisions, including a sale of Opel to PSA Group final year, GM’s merger of Cruise Automation, GM’s $500 million investment in ride-hailing association Lyft and a $2.25 billion investment in Cruise final month.
Inforum CEO Terry Barclay told Automotive News a proclamation is another denote of GM’s joining to diversity. Inforum, before famous as a Women’s Economic Club, is a Detroit-based classification that promotes women-in-business initiatives.
“GM is proof to a automobile attention that winning a fight for tip talent means not permitting half that talent — a womanlike half — to lay on a sidelines,” Barclay said. “They are reaping a advantage of a postulated and courteous joining to inclusivity as a core talent government value.”
Suryadevara’s appointment is partial of GM’s “legacy of firsts when it comes to minorities and women,” a automaker said. “We’re unapproachable of it, and it is a substructure on that we’ll keep building. We still have some-more work to do, and we are dynamic to do it, a right way, for a prolonged term. This goal has no finish line.”
According to a 2018 Fortune 500, of a 24 companies on a 500 list with womanlike CEOs, a usually other womanlike CEO-CFO span is Hershey Co.’s CEO Michele Buck and CFO Patricia Little, during No. 379. General Motors is ranked No. 10.
Ranking reduce than 500 with women in both positions are:
- Williams Sonoma Inc.’s CEO Laura Alber and CFO Julie Whalen during No. 508 on a list
- Commercial Metals Co.’s CEO Barbara Smith and CFO Mary Lindsey during 525
- American Water Works Inc.’s CEO Susan Story and CFO Linda Sullivan during 690
- Cracker Barrel Old Country Store Inc.’s CEO Sandra Cochran and CFO Jill Golder during 742
- Penn Mutual Life Insurance Co.’s CEO Eileen McDonnell and CFO Susan Deakins during 761
Suryadevara was named an Automotive News Rising Star in 2016 and a Crain’s Detroit Business “40 Under 40” honoree final year.
Barra has promoted women to some pivotal positions in new years. Two years ago, she named Alicia Boler Davis executive clamp boss of tellurian manufacturing, and in Mar she allocated Kim Brycz as comparison clamp boss of tellurian resources.
Those 3 are a usually women among GM’s 17 corporate officers. With Suryadevara replacing Stevens, a automaker’s ranks will get closer to mirroring a share of women in comparison jobs among SP 500 companies, that is 27 percent, according to Catalyst, a nonprofit that marks women in leaderships positions. The automaker’s house is tied with several other companies as a many different among SP 500 companies with half of a directors being women.
“Any time a lady is combined to a C-Suite it’s something that should be celebrated,” pronounced Anna Beninger, Catalyst’s comparison executive of research. “Given that a rate of change for women into a C-suite and into a CEO turn has been so slow, any time we see one, it is positively progress. On a flip side, it is one. We have to keep in mind that doesn’t meant a trend.”
When women do strech a C-suite, they are disproportionately allocated to roles that aren’t directly associated to operations and therefore are reduction expected to lead to a destiny CEO opportunity, Beninger said.
“It’s going to be vicious to get women into some-more C-suite turn roles that are in a line — positions that concede them to denote a skills that are required to take on a CEO purpose eventually,” Beninger said.
Bloomberg contributed to this report.