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Letter to the Editor
Monday November 4
GM Names Feldstein GMAC President
General Motors Corp., the world's largest automaker, said on Sunday it named Eric A. Feldstein as chairman and president of its General Motors Acceptance Corp. finance unit, replacing John D. Finnegan, who moves to the top job at Chubb Corp.Finnegan becomes president and chief executive of Chubb Corp., a leading U.S. business insurer, after 26 years at GM.
Feldstein, 43, who has been GM vice president of finance since June 2001 and corporate treasurer since 1997, was promoted to GM group vice president and president of GMAC, reporting to GM Chief Executive Officer Rick Wagoner. He joined GM in 1981.
In the new post, Feldstein will become a member of the GM Automotive Strategy Board and chairman and president of the GMAC Mortgage Group.
"Eric brings strong first-hand GMAC experience, financial expertise and leadership skills to this new assignment," Wagoner said in a statement. "I know he will build upon the great work of the GMAC team to continue to be a profitable and preeminent financial services company."
A successor to Feldstein was not immediately named.
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