Devine: It's time to redo business model

The historical business model in the auto industry needs an overhaul, says John Devine, General Motors CFO.

2001 Management Briefing Seminars index

Devine, who leads off the lineup of speakers on "Auto 2001" at 8:30 a.m. today, thinks the time has come to explore a new business model for the industry. "We have to get all of the cylinders running," he says.

While Devine has the top financial job at GM and was CFO for Ford Motor Co., the 56-year-old executive also has an interest in product.

"You can't, in the auto business, just take a very narrow look at just the financials," Devine said in December when he agreed to take the GM job.

"You have to be a participant in the strategy proactively, in the business and the results. Over time, I've learned how to do that well."

Some of the love of product was developed during Devine's 32-year stint at Ford, where his assignments included controller of product development at Ford of Europe in 1981 and president of Ford Motor Co.-Japan in 1986. He was named Ford CFO in 1994.

Devine resigned from Ford in October 1999 to head a San Francisco e-business firm called Fluid Ventures.

He earned a bachelor's degree at Duquesne University in 1967 and an MBA in 1972 from the University of Michigan.

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