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Ally Financial director stepping down

Ally Financial Inc. director Robert Blakely will not stand for re-election at the company's annual meeting.

The board's governance guidelines mandate that directors not be re-elected after reaching 75 years of age. Blakely turned 75 years old in 2016, and was granted an additional one-year term by the board to help transition his leadership role of the board's audit committee. Blakely's role has since been taken over by fellow director William Cary.