Troubled US auto maker General Motors (GM) today said it is close to employing a new chief financial officer (CFO) for the company.
General Motors Chairman Ed Whitacre said on Tuesday in a web chat with reporters that the company may announce the appointment in two or three weeks.
"We're close and have narrowed it down and have a real good candidate," Whitacre said. The company's current Chief Finance Officer Ray Young is expected to quit shortly.
Whitacre, who took the charge as chief executive following CEO Fritz Henderson's resignation, said he would continue to focus on repaying government loans owed by GM.
The company is looking at the possibility of repaying the government loans at once instead of making quarterly payments.
When asked about the company's plan for its initial public offering (IPO), Whitacresaid, "The timing of the IPO is simply when we are ready."
Reportedly, Henderson had said GM could launch an IPO as soon as the second half of 2010.
In June, GM's stock was removed from the Dow Jones index and delisted by the New York Stock Exchange, following the automaker's bankruptcy filing protection.
Further, when asked about the company's future in Asia, Whitacre said, "Asian market is big and growing...It's diverse and big for GM. We are doing well and will continue to do so."
In India, General Motors Company operates through its wholly-owned subsidiary GM India, while the company has about eight joint ventures with Chinese firms.
