DETROIT (Reuters) - General Motors Co , which emerged from bankruptcy last year, has a "reasonable chance" to show a profit in 2010 and could possibly make an initial public offering, though it has no hard timetable for an IPO, the automaker's chief financial officer said on Wednesday.
CFO Chris Liddell, speaking to reporters for the first time in his new role after joining GM from Microsoft Corp
"We'll do it when we're ready," said Liddell, who has been full-time on the job at GM for about two months.
GM had been planning for an IPO within about a year after its emergence from a bankruptcy reorganization supported by the U.S. government, which now holds a more than 60 percent stake.
Liddell said it was "possible" an IPO could come in the second half of 2010, but the automaker would not rush to meet a specific target. "I wouldn't go beyond possible," he said.
"Even in the few months I've been here, I've been encouraged by the progress we've made, but when it will all come together is impossible to say," Liddell said of the timing for an IPO.
Liddell said GM is on track to complete post-bankruptcy fresh start accounting and the automaker's financial management was "not as bad as has been characterized."
(Reporting by Kevin Krolicki, writing by David Bailey, editing by Gerald E. McCormick)
