Dan Ammann is a New Zealand business executive. He is the former CEO of Cruise, having been the President of

General Motors General Motors Company (GM) is an American Multinational corporation, multinational Automotive industry, automotive manufacturing company headquartered in Detroit, Michigan, United States. The company is most known for owning and manufacturing f ...

(GM) between 2015 and 2019. Ammann joined GM as treasurer following its 2009 bankruptcy, and also was the company's CFO. Prior to GM, Ammann was a managing director and head of industrial investment banking for Morgan Stanley. Ammann today is head of ExxonMobil Low Carbon Solutions.

Early life

Dan Ammann was born and raised in Eureka, a rural area outside of

Hamilton, New Zealand Hamilton (, ) is an inland city in the North Island of New Zealand. Located on the banks of the Waikato River, it is the seat and most populous city of the Waikato, Waikato region. With a territorial population of , it is the country's List of c ...

. In 1994, he graduated from the University of Waikato with a bachelor of management studies.

Investment banking

Ammann began his career as an investment banker, starting at Credit Suisse First Boston in 1993. He moved to New York City in 1997, and continued to work for Credit Suisse until moving to Morgan Stanley in 1999. In 2004, he was appointed the position of managing director and head of industrial investment banking for Morgan Stanley. At Morgan Stanley, Ammann worked with clients in the technology, service, and manufacturing industries, helping with mergers, acquisitions, raising capital, and restructuring. He was also the lead advisor on GM's bankruptcy reorganization.

GM

Ammann joined GM in 2010 as the company's treasurer following the company's bankruptcy restructuring. In November 2010, he managed GM's

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

. He became the company's CFO in 2011. In addition to helping lead GM's automotive business, he also led GM Financial. Ammann then served as executive vice president of GM, before becoming the company's president in January 2014. After Ammann became president of GM, the '' New Zealand Herald'' wrote that he had become "one of the most powerful Kiwi businessmen in the world". As of 2014, he was also one of GM's few test drivers certified to drive at the

Nürburgring The () is a 150,000-person capacity motorsports complex located in the town of Nürburg, Rhineland-Palatinate, Germany. It features a Grand Prix motor racing, Grand Prix race track built in 1984, and a long configuration, built in the 1920s ...

. As president, he led product groups including Chevrolet,

Cadillac Cadillac Motor Car Division, or simply Cadillac (), is the luxury vehicle division (business), division of the American automobile manufacturer General Motors (GM). Its major markets are the United States, Canada and China; Cadillac models are ...

and Cruise. In 2018, Ammann transitioned leadership of the Cadillac brand to GM product chief Mark Reuss in order to spend more time focusing on Cruise. Ammann helped guide the 2016 acquisition of Cruise and was subsequently closely involved with its leadership, growing the company from 40 to around 1,000 employees. During his tenure, Ammann led GM to transition its focus to electric and automated vehicles. In 2016, Ammann joined the

Lyft Lyft, Inc. is an American company offering ride-hailing services, motorized scooters, and bicycle-sharing systems in the United States and Canada. Lyft sets fares, which vary using a dynamic pricing model based on local supply and demand a ...

board of directors when GM invested $500 million in the company. He departed the board two years later.

Cruise

Ammann was the president of GM until 1 January 2019, when he was named the CEO of Cruise, the self-driving automobiles division of GM. As CEO of Cruise, he also remained a member of the GM CEO's leadership team. Ammann left Cruise in December 2021 without explanation from GM or Cruise.

ExxonMobil

In 2022,

ExxonMobil Exxon Mobil Corporation ( ) is an American multinational List of oil exploration and production companies, oil and gas corporation headquartered in Spring, Texas, a suburb of Houston. Founded as the Successors of Standard Oil, largest direct s ...

announced that Ammann had joined them as the head of the company's low carbon solutions division. ExxonMobil's CEO Darren Woods stated "We welcome Dan to ExxonMobil and will use his knowledge and experience to continue to build our Low Carbon Solutions business".

Personal life

Ammann is married and has two children.

References

External links

* {{DEFAULTSORT:Ammann, Dan 1972 births Living people University of Waikato alumni Morgan Stanley employees Credit Suisse people General Motors executives 21st-century New Zealand businesspeople 20th-century New Zealand businesspeople New Zealand bankers American investment bankers 21st-century American businesspeople