Dhivya Suryadevara, former GM’s CFO, appointed new Stripe CFO.
Stripe caught General Motors CFO Dhivya Suryadevara as the payments startup spiced up its C-suite in a pandemic-sparked e-commerce boom.
Suryadevara was named the automaker's first female chief financial officer in 2018, leading him through a pandemic that put GM's finances under pressure that year as global factories closed. At Stripe, she must "balance aggressive growth while maintaining the highest standards of discipline and financial responsibility," Stripe said.
"Stripe's mission to increase the Internet's GDP is more important today than ever," Suryadevara said in a press release on Tuesday. "I really enjoy running complex, large companies and I hope to use my skills to accelerate Stripe's already steep growth path."
Tuesday's announcement follows a flurry of high-profile Stripe employees. The company has hired Mike Clayville of Amazon Web Services to serve as Chief Revenue Officer of Stripe and Trish Walsh, previously with Voya Financial, as General Counsel.
GM has named John Stapleton, currently CFO for North America, as acting global chief financial officer effective August 15. Stapleton has been in his current position since 2014 and joined the company in 1990.
The automaker said it would conduct an internal and external search for a successor to Suryadevara.
"Dhivya was a transformation leader during her tenure as CFO," said Mary Barra, chairman and CEO of General Motors, in a statement. "She has helped the company strengthen our balance sheet, improve our cost structure, focus on cash generation and make the right investments for our future. We wish her every success."
Stripe's noticeable growth
San Francisco-based Stripe makes software that allows businesses to accept payments online. Thousands of companies, including Amazon, Slack, Glossier, Shopify, and Under Armor, use Stripe's software tools. It is one of the most valuable private companies in Silicon Valley after a recent round of funding that raised its valuation to $ 36 billion. The start-up has attracted investments from Elon Musk, Peter Thiel and Google's Venture Arm Capital G, among others.
Stripe saw staggering growth during the pandemic as its revenues are largely tied to growth in online shopping. In its latest Series G funding round, Stripe highlighted the Covid-19 outbreak, "which is driving the economy online," saying "several years of migration from offline to online will be compressed into several weeks."
The role of the CFO would be a crucial point to be filled prior to a public offer. John Collison, co-founder and president of Stripe, said the company has "no plans" to go public immediately.
"We're very happy as a private company," Collison told CNBC in a telephone interview last year. "We're pretty early on this opportunity."
Stripe is a six-time CNBC Disruptor 50 company and landed at the top of the list in 2020.
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