GMAC's Stokel to lead GMAC North American Operations; John Gibson to retire following 44 years of service

DETROIT - General Motors Corporation today announced key executive moves at its financial services subsidiary, GMAC.

Barbara Stokel has been named executive vice president of GMAC North American Operations, with responsibility for GMAC's U.S and Canadian automotive financing operations and the company's Nuvell and Semperian subsidiaries, effective Jan. 1, 2006. She will succeed John Gibson, who is retiring.

Stokel, 53, will become a member of the GMAC Executive Committee, and will join the GMAC Board of Directors as well as the boards of GMAC Insurance, GMAC Automotive Bank, Nuvell and Semperian. She will report to GMAC President Bill Muir.

Gibson, 63, GMAC executive vice president and president of GMAC's North American Operations, has elected to retire at the end of the year following 44 years of service to GM and GMAC. He has been in his current position since 1994.

"John Gibson has transformed GMAC's North American operations into a customer-focused organization that has made tremendous contributions to GM's vehicle sales efforts," said GM Chairman Rick Wagoner. "Perhaps John's greatest legacy is the high marks GMAC has received for dealer satisfaction under his leadership."

Stokel has been regional vice president of GMAC's Eastern Region in North American Operations since January 2004, overseeing the performance of branches in 19 Eastern states.

"Barb Stokel brings tremendous experience and enthusiasm to her new position," said GMAC Chairman Eric Feldstein. "She is well-respected by the GM dealer community and we expect her to take GMAC's level of customer service to new heights."

Stokel began her GM career in 1974 at a GM components division in Sandusky, Ohio, known as New Departure Hyatt Bearings Division. She held various financial positions at General Motors until 1987 when she was named to GM's Customer Sales and Service Staff. She first joined GMAC as assistant manager of the Plans Department in 1989 and subsequently progressed through various executive management positions in the company's executive office and regional and field offices.

Stokel earned a bachelor's degree in finance from Eastern Michigan University in 1974, and in 1984 was awarded a Master of Science degree in business administration from Massachusetts Institute of Technology. She was born May 6, 1952, in Portsmouth, Va.

Gibson joined General Motors in 1961 at the GM Technical Center in Warren, Mich., and from 1962 to 1967, progressed through a number of accounting positions. In 1968, he took a military leave from General Motors to serve in the U.S. Army, and returned to GM in 1971 as a member of the Controller's Staff. He worked in various positions at GM, including the GM Treasurer's Office in Detroit. He spent more than 15 years with GM's Motors Holding division, in a number of positions including regional manager of the eastern United States, and investment manager. He transferred to GMAC in 1992.

A native of Berkley, Mich., Gibson earned a bachelor's degree in finance from the University of Detroit in 1967.