US Treasury names Henry Miller, Gerald Greenwald to Ally’s board

Article by Anita Panait, on August 17, 2012

The US Treasury Department has appointed Henry Miller and Gerald Greenwald as new members of the board of directors of Ally Financial Inc. With Miller and Greenwald on the board, the US Treasury now has filled all the seats allotted for it. Ally’s common shareholders meeting held recently approved the appointments to the 11-member board.

The meeting also saw the re-election of current Ally board members. Miller and Greenwald are expected to bring their experience in restructuring and transportation to Ally Financial. Miller, the retired co-founder of Miller Buckfire & Co, has tackled several infamous corporate bankruptcies and is currently a member of the board of American International Group Inc.

Greenwald, on the other hand, was chief executive of United Airlines in 1994 and 1995, and was with Ford Motor Co. and Chrysler Corp. Miller and Greenwald are expected to play a role in a finance company that is 74-percent owned by the US government through the US Treasury.

Ally is currently selling off its international operations in order to focus on its US auto lending operations and its Internet bank. Timothy Massad, the US Treasury's assistant secretary for financial stability, said that Miller and Greenwald would make a valuable contribution to Ally’s board as the finance firm “moves forward on its continued efforts to repay taxpayers,” and support the recovery of the auto industry.

If you liked the article, share on:

Comments

Recommended

One of the executives at Volkswagen tagged in the so-called Dieselgate scandal has pleaded not guilty to a list of allegations surrounding the carmaker’s actions to cheat emissions regulations in...
by - February 27, 2017
When the Crown De Luxe saloon was first released in 1972, it was at that time the most lavish Toyota model available to British customers. Both unusual and exclusive, one...
by - February 27, 2017
The ride-sharing fleet of sharing Lyft Inc. will soon include thousands of specially fitted self-driving Chevrolet Bolt electric vehicles, courtesy of General Motors. If plans push through, Lyft’s clients would...
by - February 27, 2017
J.D. Power has officially released the 2017 Vehicle Dependability Study, an annual list of the most dependable brands in the auto industry. Once again coming on top is Lexus, the...
by - February 26, 2017
Citroen revealed that its entry to the Chinese market is moving forward with the planned release of the new generation C5. While still on sale on this part of the...
by - February 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries