Ally CEO Jeffrey J. Brown to retire Jan 31, 2024; successor search underway

Ally Financial Inc.

Brown has served as CEO since 2015; will step down by Jan 31, 2024 or earlier at Board Chair's direction.
He will become President of Hendrick Automotive Group, a longtime Ally customer with 11,000 employees.
Board has engaged a leading global executive search firm for a successor.
Brown will remain eligible for 2023 incentive awards; base salary of $1M through retirement date.
Brown to address transition during Ally's Q3 2023 earnings call on Oct 18, 2023.

item 5.02 item 7.01 item 9.01

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Departed

Jeffrey J. Brown

Chief Executive Officer

ALLY · Ally Financial Inc.

Effective: 2024-01-31
Filed: October 11, 2023, 7:59 PM ET

On October 11, 2023, Ally Financial Inc. (“Ally”) announced that Jeffrey J. Brown had provided notice of his intent to retire as Chief Executive Officer and a member of Ally’s Board of Directors (“Board”) on January 31, 2024, or an earlier date identified in writing by the Chair of the Board (the earlier of these dates, “Agreed Retirement Date”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Jeffrey J. Brown departed as Chief Executive Officer at Ally Financial Inc..

Action: retire
Role: Chief Executive Officer

Exact text from the filing

On October 11, 2023, Ally Financial Inc. (“Ally”) announced that Jeffrey J. Brown had provided notice of his intent to retire as Chief Executive Officer and a member of Ally’s Board of Directors (“Board”) on January 31, 2024, or an earlier date identified in writing by the Chair of the Board (the earlier of these dates, “Agreed Retirement Date”).

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Ally Financial Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-253898

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