Ally Financial announced that Douglas Timmerman, president of dealer financial services, will become the company’s interim CEO on Feb. 1, following the departure of current CEO Jeffrey Brown on January 31. 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. Brown announced in October 2023 plans to step down as CEO of Ally Financial in early 2024.
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