Ally Financial Says Scott Stengel To Replace William Solomon, Jr. As Its General Counsel

Ally Financial Inc. ALLY revealed Scott Stengel would be joining it as the general counsel, effective May 31. According to the company, its existing General Counsel, William Solomon, Jr. would retire on September 30 after more than 27 years with the company.

Ally Financial said Stengel would report to its Chief Executive Officer, Jeffrey Brown, and would be based in Charlotte, N.C. He would have responsibility for all legal and corporate governance matters.

Brown commented, "Bill has provided outstanding counsel to Ally for over two decades, and has helped guide the company through many meaningful transformation efforts in more recent years. I thank him for the service and guidance he has provided to the company during his tenure," said Brown.

On the appointment, he added, "We are pleased to welcome Scott to the Ally team as Bill transitions to his retirement. Scott brings key experience in consumer finance, as well as in banking and regulatory matters to Ally as we continue to expand our product offerings. He is an accomplished leader, and he will be a great addition to our management team."

On Thursday, shares of the company traded 0.5 percent higher.