Dan Ammann
{{short description|New Zealand executive}}
{{Use New Zealand English|date=December 2024}}
{{Notability|Bio|date=November 2024}}
{{Use dmy dates|date=February 2020}}
{{Infobox person
| name = Dan Ammann
| occupation = Head of ExxonMobil Low Carbon Solutions
Former CEO of Cruise
| alma_mater = University of Waikato
| birth_place = Eureka, Waikato, New Zealand
| birth_date = {{birth year and age|1972}}
}}
Dan Ammann is a New Zealand business executive. He is the former CEO of Cruise, having been the President of General Motors (GM) between 2015 and 2019. Ammann joined GM as treasurer following its 2009 bankruptcy, and also was the company's CFO. Prior to GM, Ammann was a managing director and head of industrial investment banking for Morgan Stanley. Ammann today is head of ExxonMobil Low Carbon Solutions.{{Cite web |last=Cavcic |first=Melisa |date=2022-03-23 |title=ExxonMobil's low-carbon business gets new boss as current one steps down |url=https://www.offshore-energy.biz/exxonmobils-low-carbon-business-gets-new-boss-as-current-one-steps-down/ |access-date=2022-08-31 |website=Offshore Energy |language=en-US}}
Early life
Dan Ammann was born and raised in Eureka, a rural area outside of Hamilton, New Zealand. In 1994, he graduated from the University of Waikato with a bachelor of management studies.{{Cite web|last=Stevenson |first=Rebecca |url=https://www.stuff.co.nz/business/4757276/Profile-Dan-Ammann|title=Profile: Dan Ammann|website=Stuff|date=11 March 2011}}{{cite news |title=Our man at GM |url=https://alumni.waikato.ac.nz/news/archive/our-man-at-gm |accessdate=2 October 2020 |work=The University of Waikato |date=August 2011}}
Investment banking
Ammann began his career as an investment banker,{{Cite web|url=https://www.businessinsider.com/gm-cruise-division-new-ceo-dan-ammann-2018-11|title=GM President Dan Ammann is taking over as CEO of the Cruise self-driving division as the company pushes toward a commercial launch in 2019|first=Matthew|last=DeBord|website=Business Insider}} starting at Credit Suisse First Boston in 1993. He moved to New York City in 1997,{{cite news |last1=Hembry |first1=Owen |title=One Kiwi replaces another at GM |url=https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10711780 |accessdate=6 October 2020 |work=The New Zealand Herald |date=12 March 2011}} 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. He became the company's CFO in 2011.{{Cite web|url=https://www.csoonline.com/article/2127732/new-gm-cfo-ammann-brings-investing-skills-to-the-job.html|title=New GM CFO Ammann Brings Investing Skills to the Job|first=Roy|last=Harris|date=11 March 2011|website=CSO Online}} In addition to helping lead GM's automotive business, he also led GM Financial. Ammann then served as executive vice president of GM,{{Cite news|url=https://www.fastcompany.com/person/dan-ammann|title=Meet Dan Ammann, one of Fast Company's Most Creative People|website=Fast Company}} before becoming the company's president in January 2014.{{cite news |url=https://www.bloomberg.com/news/articles/2019-02-07/gm-s-cruise-awards-new-ceo-millions-to-sell-or-pull-off-an-ipo |publisher=Bloomberg |title=New CEO of GM's Cruise to Get Millions If Unit Sells or Has IPO |author=David Welch |date=6 February 2019}}{{cite news |title=Mary Barra to replace Dan Akerson as CEO of GM |url=https://www.crainsdetroit.com/article/20131210/NEWS/131219996/mary-barra-to-replace-dan-akerson-as-ceo-of-gm |accessdate=2 October 2020 |work=Automotive News |publisher=Crain's Detroit Business |date=10 December 2013}} After Ammann became president of GM, the New Zealand Herald wrote that he had become "one of the most powerful Kiwi businessmen in the world".{{cite news |title=Kiwi drives into GM's fast lane |url=https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11336709 |accessdate=6 October 2020 |work=The New Zealand Herald |date=4 October 2014 |archive-date=19 September 2017 |archive-url=https://web.archive.org/web/20170919234749/http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11336709 |url-status=dead }} As of 2014, he was also one of GM's few test drivers certified to drive at the Nürburgring.{{cite news |last1=Maetzig |first1=Rob |title=From Kiwi cows to GM cars |url=http://www.stuff.co.nz/motoring/10590698/From-Kiwi-cows-to-GM-cars |accessdate=6 October 2020 |work=Stuff |date=8 October 2014}}
As president, he led product groups including Chevrolet, Cadillac{{cite news |title=In short order, Dan Ammann has soared to GM's top operations jobs |url=https://www.autonews.com/article/20150420/RETAIL/304209966/in-short-order-dan-ammann-has-soared-to-gm-s-top-operations-jobs |accessdate=6 October 2020 |work=Automotive News |date=20 April 2015}} and Cruise. In 2018, Ammann transitioned leadership of the Cadillac brand to GM product chief Mark Reuss in order to spend more time focusing on Cruise.{{Cite web|url=https://www.detroitnews.com/story/business/autos/general-motors/2018/06/21/dan-ammann-mark-reuss-realign/721526002/|title=Top GM execs get new responsibilities under AV push|first=Nora|last=Naughton|website=Detroit News}} Ammann helped guide the 2016 acquisition of Cruise{{cite news |last1=Burden |first1=Melissa |title=Architect of Cruise deal now gets to run the company |url=https://www.autonews.com/article/20181129/OEM02/181129662/architect-of-cruise-deal-now-gets-to-run-the-company |accessdate=2 October 2020 |work=Automotive News |date=29 November 2018}} and was subsequently closely involved with its leadership,{{Cite web|url=https://www.detroitnews.com/story/business/autos/general-motors/2019/01/03/general-motors-co-names-mark-reuss-president/2470968002/|title=GM looks to new president Mark Reuss for electric, driverless future|first=Nora|last=Naughton|website=Detroit News}} growing the company from 40 to around 1,000 employees.{{cite news |last1=Colias |first1=Mike |title=GM President Dan Ammann to Take New Role as Head of Autonomous-Car Business |url=https://www.wsj.com/articles/gm-president-dan-ammann-to-take-new-role-as-head-of-autonomous-car-business-1543514469 |accessdate=6 October 2020 |work=The Wall Street Journal |date=29 November 2018}} During his tenure, Ammann led GM to transition its focus to electric and automated vehicles.
In 2016, Ammann joined the Lyft board of directors when GM invested $500 million in the company.{{cite news |last1=Isaac |first1=Mike |title=General Motors, Gazing at Future, Invests $500 Million in Lyft |url=https://www.nytimes.com/2016/01/05/technology/gm-invests-in-lyft.html |accessdate=6 October 2020 |work=The New York Times |date=4 January 2016}} He departed the board two years later.{{cite news |last1=Newcomer |first1=Eric |title=General Motors President Leaves Lyft's Board, Picks Replacement |url=https://www.bloomberg.com/news/articles/2018-06-06/general-motors-president-leaves-lyft-s-board-picks-replacement |accessdate=6 October 2020 |work=Bloomberg |date=6 June 2018}}
Cruise
Ammann was the president of GM until 1 January 2019,{{Cite web|url=https://www.autonews.com/article/20181203/OEM02/181209974/ammann-s-move-shifts-gm-leadership-dynamic|title=Ammann's move shifts GM leadership dynamic|date=3 December 2018|website=Automotive News}}{{Cite news|url=https://www.reuters.com/article/us-gm-cruise-ceo-idUSKCN1PW01C|title=GM's incentive plan for Cruise chief points to IPO: SEC filing|newspaper=Reuters |date=7 February 2019|via=www.reuters.com}} when he was named the CEO of Cruise, the self-driving automobiles division of GM.{{Cite web|url=https://www.businessinsider.com/gms-cruise-division-wont-ipo-soon-2019-2|title=Speculation about an IPO of GM's Cruise self-driving division is premature|first=Matthew|last=DeBord|website=Business Insider}} 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.{{cite web|url=https://techcrunch.com/2021/12/16/longtime-gm-exec-dan-ammann-is-out-as-cruise-ceo/|title=Longtime GM exec Dan Ammann is out as Cruise CEO|first=Kirsten|last=Korosec|date=16 December 2021|website=techcrunch.com|accessdate=28 February 2022}}
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".{{Cite web |title=ExxonMobil appoints Dan Ammann president of Low Carbon Solutions; Joe Blommaert to retire |url=https://corporate.exxonmobil.com:443/News/Newsroom/News-releases/2022/0322_ExxonMobil-appoints-Dan-Ammann-president-of-Low-Carbon-Solutions-Joe-Blommaert-to-retire |access-date=2022-08-31 |website=ExxonMobil |language=en}}
Personal life
References
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