- Push-out Score suggests push-out forces
- After about four and a half years in the position
- Accolades, praise and thanks for Halmy
- Jenn LaClair taking over
(exechange) — Charlotte, North Carolina, December 12, 2017 — Chris Halmy, finance chief of Ally, leaves the position. As announced by Ally Financial Inc. in a news release and in a regulatory filing published on Tuesday, December 12, 2017, Christopher A. (Chris) Halmy leaves his post as chief financial officer at the digital financial services company after about four and a half years in the position, effective March 1, 2018.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CFOs who departed over the past twelve months was 5.8 years, according to data compiled by exechange.
Halmy leaves the company effective June 1, 2018.
Halmy’s duties will be taken over by Jenn LaClair, most recently head of the business bank at PNC Financial Services Group, Inc.
The fact that Halmy’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
No reason given
In the announcement, Ally did not explicitly explain the reason for Halmy’s move, leaving room for speculation.
Precise information about Halmy’s future plans was not immediately available.
Ally said: “Jenn LaClair will be joining the company as chief financial officer designate, effective Dec. 18, 2017, with the intent that she be appointed to succeed Ally’s chief financial officer, Chris Halmy. Halmy will retire as chief financial officer after eight years of dedicated service with Ally, effective March 1, 2018.”
Share price rise since May 2017
The change follows a rise in the share price of Ally Financial Inc. since May 2017.
Chaired by Franklin (Fritz) W. Hobbs
Ally Financial Inc. is chaired by Franklin (Fritz) W. Hobbs.
Hobbs currently serves as an advisor to One Equity Partners LLC, which manages investments and commitments for JPMorgan Chase & Co. in direct private equity transactions. Hobbs was appointed to the Ally Financial Inc. board in May 2009. He also serves as chairman of the board.
CEO: Jeffrey Brown
Jeffrey Brown serves as CEO of Ally Financial Inc. Jeffrey Brown (JB) was named chief executive officer of Ally Financial in February 2015 and also serves on its board of directors.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Chris Halmy’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 51.2017 ($).