Business Recorder – The US Treasury Department on Wednesday named two directors to the board of Ally Financial Inc, the auto lender which is still 74-percent owned by the US government after a series of bailouts during the financial crisis.
The addition of Henry Miller and Gerald Greenwald gives the Treasury its full allotment of six directors on the now 11-member board. The appointments were approved on Wednesday at a meeting of Ally’s common stockholders. Current board members were also re-elected.
The new directors bring experience in restructuring and transportation to a company that is in the midst of selling off its international operations as it looks to focus on US auto lending and its Internet bank.