ResCap chairman resigns

Newswire

NEW YORK, March 21 (Reuters) - GMAC LLC, a finance company struggling with mortgage-related losses, said that Michael Rossi, chairman of its Residential Capital LLC (ResCap) mortgage unit, has resigned for medical reasons. The resignation was effective March 17, GMAC said in a filing with the U.S. Securities and Exchange Commission. No immediate replacement has been named. James Jones will remain as ResCap chief executive officer, according to the filing. GMAC on Tuesday named Alvaro ...

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