Timmerman brings 30-plus years of Ally
experience to the role
CHARLOTTE, N.C., Jan. 12,
2024 /PRNewswire/ -- Ally Financial Inc. (NYSE:
ALLY) announced today that Douglas
Timmerman, president of dealer financial services, will
become the company's interim CEO on Feb. 1,
2024, following the departure of current CEO Jeffrey J. Brown on January 31, 2024.
During Timmerman's 30-plus years at Ally, he has held a wide
variety of leadership positions across the company's auto finance
and insurance business, most recently serving as president of
dealer financial services where he is responsible for deepening
relationships with 22,000 dealer customers. Under his leadership,
Ally has cemented its position as the leading prime auto lender,
optimizing the business significantly and increasing and
diversifying the dealer customer base.
"Doug's long tenure at Ally and expertise in auto finance is
extraordinarily well respected both inside and outside of Ally. I
know he will ensure a seamless transition as the Board continues
working with a leading search firm to identify the next permanent
CEO," said Franklin W. Hobbs, Ally's
Chairman of the Board.
Brown announced in October 2023
plans to step down as CEO of Ally Financial in early 2024.
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About Ally Financial
Ally Financial Inc. (NYSE: ALLY) is a financial services company
with the nation's largest all-digital bank and an industry-leading
auto financing business, driven by a mission to "Do It Right" and
be a relentless ally for customers and communities. The company
serves more than 11 million customers through a full range of
online banking services (including deposits, mortgage,
point-of-sale personal lending, and credit card products) and
securities brokerage and investment advisory services. The company
also includes a robust corporate finance business that offers
capital for equity sponsors and middle-market companies, as well as
auto financing and insurance offerings. For more information,
please visit www.ally.com and follow @allyfinancial.
For more information and disclosures about Ally,
visit https://www.ally.com/#disclosures.
For further images and news on Ally, please
visit http://media.ally.com.
Contacts:
Sean
Leary
Ally Investor Relations
704-444-4830
sean.leary@ally.com
Peter Gilchrist
Ally Communications (Media)
704-644-6299
peter.gilchrist@ally.com
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SOURCE Ally Financial