Ally Financial names Michael Rhodes as CEO [Reuters]
Ally Financial Inc. (ALLY)
Last ally financial inc. earnings: 4/20 07:30 am
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Source: Reuters
March 27 (Reuters) - Ally Financial (ALLY.N) , opens new tab said on Wednesday that Michael Rhodes will take over as chief executive officer of the company from April 29. Rhodes, who most recently served as the CEO of Discover Financial Services , has previously worked at Bank of America (BAC.N) , opens new tab and TD Bank (TD.TO) , opens new tab in his career spanning 25 years across retail and consumer banking. He will step down as Discover's CEO effective April 1, but will continue to serve as an advisor to the credit card issuer's interim CEO J. Michael Shepherd through April 12, 2024. Rhodes will take over the helm from Jeffrey J. Brown, who left his position at the end of January after nearly nine years as Ally's CEO. Ally's president of dealer financial services, Doug Timmerman, has been serving as interim CEO since Brown's departure. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here. Reporting by Mehnaz Yasmi
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