Brian Mock, executive vice president of consumer services for General Motors Financial Co., will retire “upon the completion of an orderly-transition period,” according to an April 9 Securities and Exchange Commission filing.
On April 15, two of Mock’s direct reports will assume responsibility for the consumer services group as a part of the transition plan. Scott Dishman will be promoted to EVP of servicing, and Robert Beatty will be promoted to EVP of specialty areas, in charge of asset remarketing, bankruptcy, and loss recovery.
Dishman, who joined predecessor company AmeriCredit Corp. in 1998, is currently senior vice president of corporate collections and loss mitigation. Beatty is currently SVP of corporate servicing. He joined the company in 2002.
Mock joined the company in April 2001 as senior vice president of operational services. He was promoted to the consumer services post in August 2002.
John,
The Administration had a choice between letting GM and Chrysler slide into liquidation OR be the DIP provider themselves. You are certainly correct in your observation that this is not how BK usually works. We are truly on new ground here. The meltdown of the financial system precluded GM and Chrysler from obtaining any financing that might have allowed them to dodge BK in the first place, let alone gain DIP financing. The gov’t was the only option other than C7. Judge Gonzalez is certainly an experienced BK judge, having handled both ENRON and Worldcom BKs. But if I was in his position I would have done some things differently, in particular the arbitrarily closing of dealerships.
A number of Chrysler management has already left and Wagoner was fired. It has been publicized that Nardelli will be out and the board of directors of both of these companies will be changed.
I’m not sure I understand your point.