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Posted 18 January, 2024

Ally Financial Inc. appointed Douglas R. Timmerman as new CEO

NYSE:ALLY appointed new Chief Executive Officer Douglas R. Timmerman in a 8-K filed on 18 January, 2024.


  On January 11, 2024, the Ally Financial Inc. Board of Directors appointed Douglas R. Timmerman as Interim Chief Executive Officer (CEO) effective as of February 1, 2024.  

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Overview of Ally Financial Inc.
Financial Services • Banking
Ally Financial, Inc. engages in the provision of online banking, securities brokerage, and investment advisory services. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, Corporate Finance Operations, and Corporate and Other. The Automotive Finance Operations segment offers retail installment sales contracts, loans, and operating leases, offering term loans to dealers, financing dealer floor plans and other lines of credit to dealers, warehouse lines to automotive retailers, fleet financing, providing financing to companies and municipalities for the purchase or lease of vehicles, and vehicle-remarketing services. The Insurance Operations segment focuses on consumer financial and insurance products such as vehicle service and vehicle maintenance contracts, and guaranteed asset protection. The Mortgage Finance Operations segment includes Ally Home Mortgage (ALM) offering and bulk purchases of high-quality jumbo and low-to-moderate income mortgage loans. The Corporate Finance Operations segment provides senior secured leveraged asset-based and cash flow loans to middle-market companies, with a focus on businesses owned by private equity sponsors. The Corporate and Other segment is involved in centralized corporate treasury activities such as management of the cash and corporate investment securities and loan portfolios, short- and long-term debt, retail and brokered deposit liabilities, derivative instruments, original issue discount, and the residual impacts of corporate funds-transfer pricing and treasury ALM activities. The company was founded in 1919 and is headquartered in Detroit, MI.
Market Cap
$11.0B
View Company Details
Ally Financial Inc. by TradingView
Relevant filing section
Item 5.02 
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On January 11, 2024, the Ally Financial Inc. Board of Directors appointed Douglas R. Timmerman as Interim Chief Executive Officer (CEO) effective as of February 1, 2024. Mr. Timmerman will also serve as the Interim CEO of Ally Bank.

Biographical information about Mr. Timmerman is set forth in Ally's Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the Securities and Exchange Commission on February 24, 2023, which is incorporated here by reference.