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Home / Business / Payment giant Stripe dismisses General Motors CFO in its latest high-profile lease

Payment giant Stripe dismisses General Motors CFO in its latest high-profile lease



Dhivya Suryadevara is appointed the new Chief Financial Officer of GM.

Source: GM

Stripe has kidnapped General Motors chief financial officer Dhivya Suryadevara as the start of payments boosts its C-suite amid an e-commerce boom brought on by the pandemic.

Suryadevara was named the first female automotive chief financial officer in 201

8, leading her through a pandemic that crushed GM finances this year after global factories closed. At Stripe, it will have to balance “aggressive growth by maintaining the highest standards in fiscal discipline and accountability,” Stripe said.

“Stripe’s mission to increase internet GDP is more important now than ever,” Suryadevara said in a press release Tuesday. “I really enjoy leading complex, large-scale businesses and hope to use my skills to help accelerate Stripe’s already steep growth trajectory.”

Tuesday’s announcement follows a host of the last days of Stripe’s high-profile work. The company has poisoned Mike Clayville, of Amazon Web Services, to become Stripe Chief Revenue Officer, and Trish Walsh, formerly at Voya Financial, as General Counsel.

GM has appointed John Stapleton, currently the North American CFO, as acting chief of global finance, effective Aug. 15. Stapleton has been in his current role since 2014 and he joined the company in 1990.

The automaker said it would do an internal and external search for a Suryadevara follower.

“Dhivya has been a transformative leader in her tenure as CFO,” said Mary Barra, President and CEO of General Motors, in a statement. “It has helped the company strengthen our balance sheet, improve our cost structure, focus on generating cash and direct the right investments for our future. We wish it every success.”

Rising eye strip

San Francisco-based Stripe makes software that allows businesses to accept online payments. Thousands of companies, including Amazon, Slack, Glossier, Shopify and Under Armor, use Stripe software tools. Oneshte is one of Silicon Valley’s most valuable private companies after a recent round of financing that raised its valuation to $ 36 billion. The startup has attracted investment from Elon Musk, Peter Thiel and the Google Capital G enterprise arm, among others.

Stripe has seen eye growth during the pandemic as her revenue is mainly linked to increased online shopping. In her final round of financing in the G Series, Stripe highlighted the Covid-19 explosion “boosting the online economy” and said “several years of offline-to-online migration are condensing within weeks”.

The role of the CFO would be an essential place to fill forward a public offering. Despite its growth and appreciation, Stripe co-founder and president John Collison has said the company has no “plans” to leave immediately.

“We are very happy as a private company,” Collison told CNBC in a telephone interview last year. “We are very early in this opportunity.”

Stripe is a six-time company CNBC Disruptor 50 and landed at number one on the list in 2020.

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