DETROIT, June 18 /PRNewswire/ -- William F. Muir, executive vice president
and chief financial officer of GMAC, has been promoted to the additional post
of chairman of the GMAC Insurance Group, effective immediately, according to
GMAC Chairman and President, John D. Finnegan. In his expanded role, Muir
will oversee GMAC's growing insurance operations including Integon, National
General Insurance Company and Motors Insurance Corporation (MIC). Reporting
to Muir in his new capacity will be Gary Y. Kusumi, president and CEO of
Personal Lines for GMAC Insurance and William B. Noll, president of MIC.
Muir will continue all of his current responsibilities as chief financial
officer of GMAC including general finance, worldwide borrowings and new
business development. He will also continue to serve on the boards of
directors of GMAC, the GMAC Mortgage Group and GMAC Business Credit.
Prior to his appointment as GMAC's chief financial officer in 1998, Muir
served as executive director of planning for Delphi Automotive Systems from
1996 to 1998. Muir also served as vice president of GMAC's Eastern U.S.
Operations from 1995 to 1996. He joined GMAC in 1992 as vice president of
Before joining GMAC, Muir was general director of business development in
the General Motors Treasurer's Office in New York. He joined GM in 1983 in
the Treasurer's Office in New York and advanced through several positions
there, including director of Foreign Exchange and International Cash
Management, director of Overseas Borrowings, and director of Corporate Finance
and Investor Relations.
Muir holds a bachelor's degree in industrial engineering and operations
research from Cornell University and an MBA from Harvard University.
General Motors Acceptance Corporation, a wholly owned subsidiary of
General Motors Corporation (NYSE: GM), is one of the world's largest financial
services companies with business lines in automotive finance, commercial and
residential mortgages, and insurance. At March 31, 1999, GMAC's owned assets
and serviced automotive receivables exceeded $140 billion and combined managed
assets of the GMAC Mortgage Group exceeded $250 billion. The GMAC Insurance
Group wrote $1.9 billion in premiums in 1998 and operates in all 50 states and
internationally. More information on GMAC Financial Services is available at
SOURCE General Motors Acceptance Corporation
-0- 06/18/99 P
/CONTACT: Terry Sullivan, 313-556-1020, or James B. Kobus, 313-556-2642,
both of GMAC/
/Web site: http://www.gmacfs.com/
CO: General Motors Acceptance Corporation; GMAC Insurance Group; General
IN: FIN AUT INS
-0- Jun/18/1999 7:39
EOS (PRN) Jun/18/99 07:39 **
-0- (PRN) Jun/18/1999 7:54
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