Dan Ammann is a New Zealand business executive. He is the former CEO of Cruise, having served as the President of General Motors (GM) between 2015 and 2019. Ammann joined GM as Treasurer following its 2009 bankruptcy, and also served as the company's CFO. Prior to GM, Ammann was a managing director and head of industrial investment banking for

Morgan Stanley Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...

. Ammann today is currently head of ExxonMobil Low Carbon Solutions.

Early life

Dan Ammann was born and raised in

Eureka Eureka (often abbreviated as E!, or Σ!) is an intergovernmental organisation for research and development funding and coordination. Eureka is an open platform for international cooperation in innovation. Organisations and companies applying th ...

, a rural area outside of

Hamilton, New Zealand Hamilton ( mi, Kirikiriroa) 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 region. With a territorial population of , it is the country's ...

. In 1994, he graduated from the

University of Waikato , mottoeng = For The People , established = 1964; years ago , endowment = (31 December 2021) , budget = NZD $263.6 million (31 December 2020) , chancellor = Sir Anand Satyanand, GNZM, QSO, KStJ , vice_chancellor = Neil Quigley , cit ...

with a bachelor of management studies.

Investment banking

Ammann began his career as an investment banker, starting at

Credit Suisse First Boston Credit Suisse First Boston (also known as CSFB and CS First Boston) is the investment banking affiliate of Credit Suisse headquartered in New York. The company was created by the merger of First Boston Corporation and Credit Suisse Group in 1988 ...

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 investme ...

. He became the company's CFO in 2011. In addition to helping lead GM's automotive business, he also led

GM Financial General Motors Financial Company, Inc. is the financial services arm of General Motors. The company is a global provider of auto finance, with operations in the United States, Latin America, Canada, Europe (which was sold to PSA Groupe and ...

. 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 ''The New Zealand Herald'' is a daily newspaper published in Auckland, New Zealand, owned by New Zealand Media and Entertainment, and considered a newspaper of record for New Zealand. It has the largest newspaper circulation of all newspapers ...

'' 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. As president, he led product groups including Chevrolet, Cadillac and Cruise. In 2018, Ammann transitioned leadership of the Cadillac brand to GM product chief

Mark Reuss Mark L. Reuss is the current President of General Motors. Early life and education Mark's father is Lloyd E. Reuss, former president at GM from 1990 to 1992. He received an undergraduate degree from Vanderbilt University in 1986 and an MBA from ...

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. offers mobility as a service, ride-hailing, vehicles for hire, motorized scooters, a bicycle-sharing system, rental cars, and food delivery in the United States and select cities in Canada. Lyft sets fares, which vary using a dyn ...

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

Cruise

Ammann served as 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 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

{{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