UPDATE: Ally Financial CEO Barbara Yastine To Resign
Ally Financial Inc. (Ally) today
announced that Barbara Yastine has elected to resign from her positions as
chair, chief executive officer and president of the Ally Bank subsidiary. A
successor will be named in the near-term, and Yastine will remain with the
company until June to assist with the transition.
"Barbara has played a number of key roles in restoring the company to
financial and strategic health, most notably as CEO and president of Ally
Bank," said Ally Chief Executive Officer Jeffrey J. Brown. "She is a
talented leader, and we wish her continued success in her future endeavors."
"I am very proud of what we have accomplished at Ally and remain very
optimistic about the company's future," said Yastine. "I will greatly miss
my colleagues, but as Ally enters a new chapter, it is also a fitting time
for me to seek out new challenges."
Yastine joined Ally as chief administrative officer in May 2010, with
responsibility for risk, technology, legal and compliance, as well as
chairmanship of Ally Bank. She became CEO and president of Ally Bank in May
2012. Among Yastine's accomplishments were her contributions to the
strengthening of Ally Bank and the successful operational navigation through
a variety of strategic issues facing Ally, which were ultimately
instrumental in the company's transformation, including achieving financial
holding company status. She also has continued to build the bank's position
as the leading online deposit bank with expanding customer relationships.
During her tenure, Ally Bank has received numerous recognitions, including
being named Best Online Bank for four consecutive years by MONEY(R)
Magazine. Yastine was named to American Banker's Most Powerful Women in
Banking list for the last two years.
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