Former Apple, Ford Exec Joins GM's Cruise As Safety Head To Steer It Out Of Troubled Waters
Portfolio Pulse from Anan Ashraf
General Motors Co.'s autonomous vehicle subsidiary, Cruise, has appointed Steve Kenner, a former Ford Motor Co. executive, as its new Chief Safety Officer. This move aims to enhance Cruise's focus on safety, transparency, and accountability, especially after recent safety concerns and financial losses. Kenner, with a background at Uber, Apple, Chrysler, Ford, and most recently Kodiak Robotics, will oversee Cruise's safety management systems. GM CEO Mary Barra reaffirmed the company's commitment to Cruise, indicating plans for reduced spending but continued investment in self-driving technology.
February 13, 2024 | 6:57 am
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General Motors Co. appoints Steve Kenner as Chief Safety Officer for its subsidiary Cruise to address safety and financial challenges.
The appointment of a seasoned executive like Steve Kenner as Chief Safety Officer is a strategic move by GM to reinforce Cruise's commitment to safety and accountability, which is crucial for regaining trust and potentially improving Cruise's financial performance. This could positively impact GM's stock in the short term as it demonstrates proactive measures to address Cruise's recent challenges.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90