The surprise exit of longtime Ally Financial CEO Jeffrey Brown, who announced plans Wednesday to step down by early next year, comes at a time when the auto lending giant is facing trickier terrain.
Still, Hutchinson will have to "step up a lot" to run the business at a time when auto lending is "in a tough spot," said Vincent Caintic, an analyst at Stephens Inc.
"To have the two top executives be new is a concern," Caintic said.
Caintic, the Stephens analyst, said it isn't entirely clear who will succeed Brown, nor whether the new CEO will come from inside or outside Ally. The company declined to comment on whether it will look at both internal and external candidates.
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