General Motors (GM) shares fell 4.23% to close at $80.68 following a sector-wide sell-off. In a strategic move, the automaker appointed former Lucid Motors executive Claudia Gast as deputy CFO and head of corporate strategy.
- Starting March 1, Gast will lead technology partnerships and business development to oversee a $7.2 billion realignment of the electric vehicle division.
- The restructuring is driven by slowing consumer demand and significant regulatory policy changes impacting the automotive industry.
- The stock decline mirrored a broader market retreat triggered by strategic shifts from industry rivals like Stellantis.