New GM CFO: Microsoft's Liddell |
Register here for our next TechFlash Live networking event, March 23, featuring an expert panel discussing the future of online advertising.
When Chris Liddell announced his departure from Microsoft, the word from the company was that he wanted to expand his career beyond the role of chief financial officer. As it turns out, he's remaining a CFO, in what promises to be a considerably more challenging position. Automotive giant General Motors named Liddell its new chief financial officer this morning.
"Chris brings a depth and experience to this job that were unmatched in our search for a new financial leader," said Ed Whitacre, GM chairman and CEO, in the news release. "Chris will lead our financial and accounting operations on a global basis and will report directly to me. We're also looking to his experience and insights in corporate strategy as a member of the senior leadership team in helping our restructuring efforts."
There are no doubt some fun conversations taking place between Liddell and Microsoft CEO Steve Ballmer, who is a tried-and-true Ford guy, dating back to his dad's time working at the automaker.
Update: Here's a financial breakdown illustrating the differences in the companies' finances: GM reported (PDF) a $1.2 billion loss on $26.4 billion in revenue in the quarter ended Sept. 30. Microsoft, obviously in a completely different business, posted $3.6 billion in profits on $12.9 billion in revenue during roughly the same period.
Liddell was known for significantly reducing Microsoft's operating expenses during his tenure at the company, and that no doubt played a role in his appointment as finance chief for the struggling automaker.
And as a final note, it will be interesting to see if the hiring of Liddell creates stronger ties between Microsoft and GM. As we've reported previously, the auto company's use of OnStar wouldn't necessarily preclude it from adopting Microsoft's technology for connecting to phones and portable devices in cars. Ford has been Microsoft's flagship partner on that technology, with its Sync system, but Ford CEO Alan Mulally has said the pact would now let Microsoft work with other U.S. automakers, as well.
Todd Bishop is co-founder and managing editor of TechFlash. He has covered Microsoft and the technology industry for more than five years, most recently as a daily newspaper reporter and blogger based in Seattle.
READ FULL BIOGRAPHYTechnology Tax Planning – Did You Take The Deduction?
Technology companies require professional advisors who can assist in all aspects of the business. The BDO Technology Practice provides a full range of services tailored to help address the changing needs of domestic and international companies. In addition to core audit and tax services, BDO professionals can assist technology companies with:
· Revenue recognition
· Business combination accounting
· R&D tax credits
· Compensation and benefits
· Business valuations
Backed by 38 national offices and an international network in 110 countries, we have the domestic and global footprint to serve growing technology companies. Contact sphilpott@bdo.com (audit partner), mreeves@bdo.com (audit partner), psmith@bdo.com (tax partner), tzambito@bdovaluation.us.com (valuation), tfiscus@bdo.com, Director, 206.624.2020
Join the Microsoft WebsiteSpark program and get software, support and visibility – at no upfront cost. You’ll benefit from fast and easy access to current Microsoft development tools, platform technology and server products including Visual Studio, Expression Studio, Silverlight, Windows Web Server 2008 and SQL Server 2008 Web.
Seattle-based Adhost is a WebsiteSpark hosting partner providing dedicated servers with free Windows Web Server 2008 and SQL Server 2008 licensing for three years to Web developers enrolled in WebsiteSpark. Servers are located in our secure data center with SAS 70 Type II certification, 24x7 technical support and 24x7 client access.