General Motors said Chuck Stevens, an executive vice president and chief financial officer, will retire after more than 40 years with the company on 1 March, 2019.

Dhivya Suryadevara was named to replace Stevens from 1 September, 2018. Suryadevara will report to chairman and CEO Mary Barra.

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Stevens will remain as an advisor until his retirement.

“Suryadevara’s experience and leadership in several key roles throughout our financial operations positions her well to build on the strong business results we’ve delivered over the last several years,” said Barra.

Suryadevara, 39, has been vice president, corporate finance since July 2017, responsible for corporate financial planning, investor relations and special projects.

She played an integral role in the Opel divestiture, Cruise acquisition, Lyft investment and more recently, SoftBank’s investment in GM Cruise, GM said in a statement.

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From 2015 to 2017, Suryadevara was vice president, finance and treasurer. She helped achieve ratings upgrades from all three credit ratings agencies, completed a US$2bn notes issuance to fund discretionary pension contributions and upsized and renewed GM’s $14.5bn credit revolver.

She was CEO and chief investment officer for GM Asset Management from 2013 to 2017, responsible for management of business and investment activities of GM’s $85bn pension operations.

Suryadevara joined GM in 2005.

She is a chartered financial analyst and a chartered accountant.

The retiring Stevens, 58, became GM CFO in January 2014. He was GM’s CFO for North America from 2010 to 2014 and also was interim CFO for GM South America from December 2011 to January 2013. He began his GM career with Buick in 1978.