The Bank Slate


Ally Financial decides on interim CEO while it conducts search

Ally Financial in Detroit has an interim CEO.

The company said in a press release that Douglas Timmerman will take over for Jeffrey Brown on Feb. 1. Timmerman is president of dealer financial services.

“Doug’s long tenure at Ally and expertise in auto finance is extraordinarily well respected both inside and outside of Ally,” Franklin Hobbs, Ally’s chairman, said in a press release. “I know he will ensure a seamless transition as the Board continues working with a leading search firm to identify the next permanent CEO.” 

Ally announced in October that Brown would stay on “to help ensure a smooth leadership transition” until Jan. 31 or an earlier date.

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