Ally Financial in Charlotte, N.C., said CEO Jeffrey Brown will step down next year.
The company said in a press release that Brown is leaving on Jan. 31 to become president of Hendrick Automotive Group. Ally’s board has hired an executive search firm to find a successor for Brown, who has been its leader since 2015.
“I am so proud of how we transformed the company from the days of GMAC to who we are today, a more strategically, operationally, and financially sound organization,” Brown said in the release.
“What began in 2009 as the financial reengineering of a company ultimately became a bank that truly matters in the financial industry, and now is the right time for me to transition,” Brown said. “Ally is positioned for a bright future thanks to our amazing team and the customers we are proud to support.”