General Motors Co. announced today that Dan Ammann, Chief Executive Officer of Cruise, is leaving the company. Kyle Vogt, Cruise President and Chief Technical Officer, will serve as interim CEO. In addition, Wesley Bush, the former Chairman and CEO of Northrop Grumman and a GM board member, will join the Cruise Board.
Alongside this leadership change, GM will accelerate the strategy the company detailed in its recent Investor Day, in which Cruise will play an integral role in building GM's autonomous vehicle (AV) platform as GM aggressively pursues addressable AV markets beyond rideshare and delivery.
GM is deeply committed to its vision of zero crashes, zero emissions, zero congestion, and AV technology will play a critical role in realizing it. Under GM's ownership to date, Cruise has seized the leadership position in commercial autonomous ridesharing and has created significant value for both GM shareholders and Cruise's minority shareholders.
By continuing to work together, GM and Cruise bring massive manufacturing and technological scale to autonomy that will rapidly drive costs down. The integrated strategy will also maximize GM and Cruise's total addressable market by leveraging synergies, leading to greater, more sustainable value for both GM and Cruise shareholders.