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GMAC replaces top executive
GMAC replaces top executive
Posted on Tuesday, November 17th, 2009 at 12:25 PM EST. (Employee News)
GMAC Financial Services on Monday replaced chief executive Alvaro de Molina with one of its new board members, who vowed to focus on the core business of lending to General Motors Co.’s and Chrysler’s dealers and customers, The Detroit News reported.
The appointment of Michael A. Carpenter as CEO by the company’s board at a meeting Monday came after an intensive, weeks-long review by the board of the company’s plans for the next two or three years, the paper said. In an interview shortly after the announcement of his promotion, Carpenter vowed to repay taxpayers for the $13.5 billion in government support “as soon as we prudently can,” the Free Press reported.
Furthermore, the Detroit-based finance company has asked the U.S. Treasury Department to delay consideration of up to $5.6 billion in additional government aid. Its new leaders want time to assess what is needed, the story said. (The Detroit News)
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Rick
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