The recovery from the strike “will add to GM’s list of challenges in coming months as pressures build on the car business globally."
“Our results demonstrate the earnings power of our full-size truck franchise, with more upside to come," CEO Mary Barra says.
The automaker increased sales of pricey pickups by 20% and cut $400 million in costs in Q1, boosting profit despite a 3.4% revenue drop.
The company expects to surpass its 2018 earnings projection and promises higher 2019 earnings.
The moves are part of GM's effort to position itself for a future of electric and autonomous vehicles.
Suryadevara's appointment to replace Chuck Stevens puts GM in an elite group of companies that have a woman in both the CEO and CFO roles.
The automaker has been retooling factories to prepare for the launch of new full-size pickups.
The automaker would convert around $2.2 billion of GM Korea's debt into equity in exchange for financial support and tax benefits from Seoul.
The automaker's operating results were "very strong, and actually great" in the quarter and for the full year, CFO Chuck Stevens says.
Activist investor Greenlight Capital had said the plan would "help fix GM's inefficient capital structure" and unlock significant shareholder value.
The results "demonstrate the strong earnings power of this company,” CEO Mary Barra says as profits soar 33% to $2.6 billion.
"This represents another major step in the ongoing work that is driving our improved performance and accelerating our momentum,” GM CEO Mary Barra says.
