Cruise Appoints New CEO, Dan Ammann, Autotrader Comments

Below are some comments from Michelle Krebs around the announcement of Dan Ammann leaving his role as President of GM and moving onto leading Cruise as CEO. If you have any questions or would like to speak to one of our analysts at Autotrader or Kelley Blue Book, please let us know.

From Michelle Krebs, executive analyst at Autotrader:

“GM’s Dan Ammann has long led the automaker’s charge into autonomous vehicles, so it was predictable and rumored for some time that he would head the company. A spin-off of the entity would be a next step. It would get it off GM’s books, making them look better without all of the outlay to the company. It would also better position the AV company to go after strategic partnerships, like the one it has with Honda, and tap financial sources like those tapped by Silicon Valley companies, as it already has shown it can do with the Softbank investment.”