Advertisement
GMAC Chief Executive Officer Al de Molina has resigned, according to published reports.
He will be replaced by Michael Carpenter, GMAC announced on Monday.
Carpenter was the global corporate and investment banking chief at Citigroup, but stepped down from the board to focus on GMAC matters.
Molina, formerly the chief financial officer of Bank of America Corp., headed GMAC since April of 2008. Molina was rumored to be a candidate for CEO at Bank of America.
