Ally Financial Announces Additional Board Members
August 17, 2012
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DETROIT — This week, Ally Financial revealed the two newest
members elected to its board of directors, including one who has extensive professional
experience with both Ford and Chrysler.
Joining the contingent are Gerald Greenwald and Henry Miller.
Officials indicated the appointments, as well as the re-election of the current members of the Ally board, occurred during a meeting of the company's common stockholders.
Greenwald is a founder of Greenbriar Equity Group, a private equity firm focused on the global transportation sector.
Previously Greenwald was the chairman and chief executive officer of United Airlines from 1994 to 1999. During his time at the airline, he helped return the company to profitability and build its leadership position globally.
Greenwald began his career in the automotive industry at Ford where he worked in several positions including controller, director of operations in Europe and president of Ford of Venezuela. He later joined Chrysler where he worked in various positions including corporate controller and chief financial officer before being promoted to vice chairman.
Miller has served as chairman of Marblegate Asset Management since its formation in 2009. He was also co-founder, chairman and managing director of Miller Buckfire & Co. from 2002 until 2011.
Ally highlighted Miller has an accomplished background in restructurings and has worked in various capacities on several complex cases throughout his career. Prior to founding Miller Buckfire, he was vice chairman and managing director at Dresdner Kleinwort Wasserstein, where he was the head of the financial restructuring group. He also served as managing director and head of both the restructuring and transportation industry group of Salomon Brothers.
Miller has also served in senior leadership roles at Prudential Securities and Lehman Brothers.
Ally noted Greenwald and Miller join nine other directors on the company board and are appointees of the U.S. Treasury.
"Gerald and Henry are valued additions to the Ally board," said Ally chairman Franklin "Fritz" Hobbs.
"They bring extensive experience from both the financial and auto sectors and will add key perspectives as Ally continues its transformation," Hobbs continued. "We are pleased to have these two seasoned leaders join the board."
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