General Motors' (NYSE: GM) chief financial officer chief is quitting, reportedly after he was passed over for the CEO job.
Chris Liddell, who just oversaw the automakers first profitable year since 2004 and led its successful public stock offering, will resign on April 1, after only 15 months at GM.
GM said he will be replaced by Treasurer Dan Ammann.
Liddell, a former CFO of Microsoft Corp. (Nasdaq: MSFT), was once considered a likely choice to succeed former GM Chief Executive Ed Whitacre. However, after Whitacre left last August, GM's board selected current Chairman and CEO Dan Akerson instead.
At a press conference, Liddle said he had no definitive plans for a new job, but added I have a number of interesting ideas which I have in the back of my mind, but none of them have CFO on it.”
Chris was a major contributor during a pivotal time in the company's history, said Akerson. He guided the company's IPO process and established a good financial foundation for the future.
GM shares are down 2.82 percent in late afternoon trading at$31.34 per share, below the November IPO price of $33.