Business
Restructure Proposals
Restructure Proposals.
About this update from Gaming Realms Plc
[{"type":"text","content":"\n \n GM Announces Restructuring of Finance Activities \n \n DETROIT, May 17 -- General Mootors today announced that it plans to \nrestructure its Corporate Controller's Office in light of the planned retirement \nof its current controller, Paul W. Schmidt. \n Schmidt, 61, is electing to retire from GM later this year, capping a 37-\nyear career at GM. Following Schmidt's retirement, GM will combine the \npositions of controller and chief accounting officer. The company has begun \nan external search for a candidate using executive recruiter Crist Associates. \nSchmidt will continue in his current position until a successor is named. \n Chief Financial Officer Frederick \"Fritz\" Henderson said, \"Paul has made \ntremendous contributions to General Motors over 37 years in the finance \norganization. Having worked in a number of different positions and operations \nthroughout GM, he has been a tremendous resource to the company on a global \nscale. And, I'm grateful that he will continue to help GM over the next \nseveral months through this transition to a new controller and chief \naccounting officer.\" \n GM also announced today that its current chief accounting officer, Peter \nBible, has elected to resign from the company to pursue other career options, \neffective June 1, but at the company's request has agreed to continue to \nsupport GM during the transition period in a consulting role. \"I know the \nentire GM family joins me in thanking Pete for his service to GM and wishing \nhim the best as he pursues new opportunities,\" said Henderson. \n In addition, GM said it has retained an outside financial advisory firm, \nAlixPartners, to assist the corporation with a broad range of accounting, \nfinancial reporting and related matters. AlixPartners will provide personnel \nto support the corporation during the transition to a new controller and chief \naccounting officer, including assisting with assessments of the corporation's \ninternal, financial reporting and disclosure controls and implementing steps \nto improve them on an ongoing basis. \n \"One of our key objectives in finance is to minimize risk,\" said Henderson. \n\"To that end, we are moving quickly to make sure that we have a robust level \nof internal controls and systems in place -- and AlixPartners has tremendous \nexpertise to support this initiative.\" \n ...