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CEO Dan Ammann departs GM-backed Cruise

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GM stated it would speed up the Cruise technique it outlined throughout its investor day in October, wherein Cruise will assist construct GM’s autonomous platform.

Ammann’s departure marks a second high-profile loss for GM in a matter of days. On Thursday, the automaker confirmed that Pamela Fletcher, GM’s vice chairman of world innovation, would depart the corporate to turn into chief sustainability officer for Delta Airways.

Ammann had been CEO of Cruise since 2019 and was president of GM from 2014 to 2018. He was additionally the automaker’s CFO from 2011 to 2014 after greater than a decade as a Wall Avenue banker with Morgan Stanley and Credit score Suisse. As managing director and head of commercial funding banking for Morgan Stanley, he was instrumental in high-profile assignments together with advising GM throughout its 2009 restructuring, in line with a GM bio.

Ammann was a key participant within the acquisition of Cruise in 2016. He typically stated self-driving car know-how can be lifechanging. On the reveal of the Cruise Origin in San Francisco in early 2020, Ammann referred to as the shared autonomous shuttle “our reply to the query about what transportation system you’d construct in the event you may begin from scratch.”

 

This story shall be up to date.

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