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(Image from article: "GM names Microsoft exec as new CFO")

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GM names Microsoft exec as new CFO

GM said Monday it had hired Chris Liddell, the chief financial officer of Microsoft, as its new finance chief, filling a key position with the automaker's highest-profile hire since its July bankruptcy.

GM Will Miss Its $1 Billion Debt Payment, Stock Plummets

General Motors Corp. will not make a $1 billion debt payment due June 1, its CFO, Ray Young, told reporters on Wednesday. Instead, it is hoping to complete a debt-for-equity exchange or be forced to resort to bankruptcy.

GM's stock plummeted on the news.

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