GMAC names de Molina CEO

Newswire

NEW YORK, March 18 (Reuters) - GMAC, a finance company struggling with mortgage-related losses, on Tuesday named Alvaro de Molina chief executive effective April 1. The 50-year-old de Molina will replace Eric Feldstein, who will join Cerberus Capital Management LP, the private equity firm that controls 51 percent of GMAC. General Motors Corp, the automaker, owns the other 49 percent. GMAC had in August named de Molina its chief operating officer. The executive had joined Cerberus two ...

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