DETROIT -

Ally Financial has added a former General Electric executive to its own board of directors.

The company announced this week that William “Bill” Cary has been appointed to the Ally board of directors, filling the role left by Cerberus Capital Management’s Stephen Feinberg, who stepped down from the board effective June 22. Cary worked at GE in various capacities, such as president and chief operating officer, during his 29 years with the company.

“Bill is a seasoned financial services veteran with over 30 years of management and operating experience across many disciplines, including consumer and wholesale finance,” Franklin “Fritz” Hobbs, chairman of Ally, said in a news release. “His expertise and leadership will be a valued complement to the Ally board and management team."

Immediately before joining the Ally board, Cary served as the president and chief executive officer of GE Money in London. He also serves on the boards of BRP and Rush Enterprises.

Feinberg, in the release, said, “It has been a privilege to be part of Ally's unique journey, and I continue to believe in the company. After seven years of board service and many transformational efforts, this was a natural time to step down and let this highly talented board and capable management team lead the next chapter."

Hobbs said of Feinberg, “I want to thank Steve for his dedicated and passionate service on the Ally board. Steve has understood the vision and potential for Ally for many years and has offered invaluable leadership throughout the company's transformation. Today, Ally is in a position of strength with a clear plan to create value for shareholders.”

In other company news, Ally also mentioned that it will report its second-quarter results on July 26.