Ally Financial Chief Executive Jeffrey J. Brown to leave company in January or possibly sooner

Ally Financial Inc.

stock was down 0.6% in premarket trading Wednesday after the company said Chief Executive Jeffrey J. Brown will step down by early next year to take a job as president of privately-held Hendrick Automotive Group. Brown has headed up Ally Financial since 2015 and steered it toward the mortgage and auto loan business after it was formerly called GMAC as a unit of General Motors Co. GM, +1.58%. Brown will remain with Ally until Jan.

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