Tim Russi, the Ally Financial auto finance president who led many digital initiatives and helped expand the lender's dealership reach, is leaving the post, effective immediately.
Doug Timmerman, president of Ally's insurance business, will succeed him, Ally said Thursday in a series of auto finance leadership changes. Russi, 55, will stay with Ally, one of the largest auto lenders in the U.S., as vice chairman of auto finance until Oct. 1 to help with the transition. Then he will leave the company to pursue other opportunities, a statement said.
Russi was a major force behind leveraging Ally's technology with emerging consumer and mobility trends to poise the company for the future. Over the last year, Ally has announced a number of partnerships and investments with digital retail and mobility companies.
"We love the business model the way it is today," Russi told Automotive News last month. "We could operate and will operate on that model for as long as consumers and dealers want to operate that way. But, we also see the trends where the marketplace can be more digitally savvy, and we're embracing all that."