GMAC says de Molina quit |
TribLive Logo
| Back | Text Size:

GMAC Inc., the auto and home lender bailed out twice by the U.S. government, said Alvaro de Molina resigned as CEO, and the company asked the Treasury Department to postpone a third infusion of taxpayer money.

Michael A. Carpenter, 62, was named the new CEO, according to the Detroit-based lender. GMAC benefited from $13.5 billion in government aid after the government decided the lender was crucial to the survival of the U.S. auto industry.

The company said it asked the Treasury to delay a new injection from the Troubled Asset Relief Program until Carpenter can assess GMAC’s needs.

Copyright ©2019— Trib Total Media, LLC (