Ally Financial has announced that Douglas Timmerman, the president of dealer financial services, will serve as interim CEO starting from February 1st. The decision comes three months after current CEO Jeffrey Brown made public his plans to step down at the end of January 2024. Brown’s departure was unexpected and left Ally Financial without an immediate successor. The bank has been facing other leadership turmoil and job cuts across the company. Timmerman has been with Ally for over 30 years and has held leadership roles in the auto finance and insurance business. Ally Financial is continuing its search for a permanent CEO.