Ally Financial Appoints Doug Timmerman As Interim CEO

(RTTNews) - Ally Financial Inc. (ALLY) said on Friday that Douglas Timmerman will take over as the company's interim CEO on February 1, 2024, after Jeffrey J. Brown, the current CEO, steps down on January 31, 2024.

Timmerman has worked at Ally for over 30 years and has held various leadership positions in the company's auto finance and insurance business. He most recently served as president of dealer financial services.

According to Franklin W. Hobbs, Ally's Chairman of the Board, Timmerman's long tenure and expertise in auto finance are highly respected both inside and outside of Ally. The Board is currently working with a leading search firm to identify the next permanent CEO and Timmerman is expected to ensure a seamless transition.