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Ally Shifts Top Executives; President Postpones Retirement

June 07, 2011

As its president delays retirement, Ally Financial shuffled its top management structure late last week as four executives received new appointments.

Among those appointments is the newly created position of senior executive vice president of finance and corporate planning, which is being filled by Jeffrey Brown, Ally’s former corporate treasurer.

In addition to the appointments, Ally also announced that William Muir, president and head of the company’s global automotive services operation, has postponed his previously announced retirement and will remain with the company indefinitely.

“Bill has been a key part of Ally’s success in the auto finance business, and I’m delighted he has decided to remain with the company during this important time,” said Michael Carpenter, Ally's chief executive officer.

Delving more into the appointments, Ally said the changes are meant to leverage the senior leadership capability within the organization as Ally continues its “transformation,” including an initial public offering.

In his new role, Brown now reports to Carpenter and has oversight of the finance, treasury and corporate strategy activities for the company.

Meanwhile, the interim tag has been removed from James Mackey’s title as Ally named him chief financial officer. Mackey — who the company indicated will report to Brown — has responsibility for Ally’s financial planning and analysis, accounting, investor relations and business planning.

Elsewhere, Ally shifted structured funding executive Christopher Halmy over to be corporate treasurer. Also reporting to Brown, Halmy has been charged with responsibility for global treasury activities, including funding and balance sheet management.

The company also said Corey Pinkston will continue to lead Ally’s strategic financing activities, reporting to Carpenter. Among Pinkston’s will be responsible for overseeing the process surrounding the proposed IPO included in the company’s plans to repay the U.S. taxpayers’ investment.

“One of Ally’s key strengths over the past several years has been the dedication and capability of its management team, and I’m pleased to announce these new appointments,” Carpenter said. “Each of these leaders has made significant contributions toward Ally’s success and more closely connecting these disciplines will enable the longer-term strategic planning that will be critical as we continue to grow the company.”

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