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Stripe has trapped General Motors’ chief financial officer, Dhivya Suryadevara, as the launch of payments strengthens his C-suite amid the rise of e-commerce through the pandemic.
Suryadevara was named the automaker’s first female CFO in 2018, leading her through a pandemic that has put pressure on GM’s finances this year when global plants closed. At Stripe, you will need to balance “aggressive expansion while maintaining the criteria of fiscal and field responsibility,” Stripe said.
“Stripe’s project to build Internet GDP is more vital than ever,” Suryadevara said in a press release tuesday. “I enjoy running complex businesses on a large scale and look forward to using my skills to help drive Stripe’s already steep expansion trajectory.
Tuesday’s announcement follows a recent high-level hiring wave on Stripe. The company corrupted Mike Clayville of Amazon Web Services as Stripe’s revenue director, and Trish Walsh, formerly voya Financial, as general counsel.
GM has appointed John Stapleton, currently CHIEF Financial Officer for North America, as interim global CFO as of August 15. Stapleton has held his current position since 2014 and joined the company in 1990.
The automaker said it would look internally and externally for a successor for Suryadevara.
“Dhivya has been a transformative leader in his tenure as CFO,” Mary Barra, president and ceo of General Motors, said in a statement. “She helped the company improve our balance sheet, improve our position structure, focus on generating money, and drive the right investments for our future. We wish him every single success.”
Stripe, founded in San Francisco, offers software that allows companies to pay their bills online. Thousands of corporations, in addition to Amazon, Slack, Glossier, Shopify and Under Armour, use Stripe’s software tools. It is one of Silicon Valley’s most valuable personal corporations after a recent funding circular that raised its valuation to $36 billion. The start-up has attracted investments from Elon Musk, Peter Thiel and Google’s venture capital subsidiary, Capital G, among others.
Stripe grew during the pandemic, as its revenue is largely linked to the expansion of online shopping. In his most recent G-Series investment round, Stripe highlighted the Covid-19 epidemic “driving the online economy” and said that “several years of offline-to-online migration are being compressed in several weeks.”
CFO’s role would be a place to fill before a public offering. Despite its growing expansion and valuation, Stripe co-founder and president John Collison said the company “had no plans” to go public immediately.
“We are very satisfied as a personal company,” Collison told CNBC in an interview last year. “We’re pretty early at this time.”
Stripe is a CNBC Disruptor company 50 six times and has landed at number one on the list in 2020.
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