Toni Simonetti to Lead GMAC Global Communications
Aug 1, 2006
NEW YORK - GMAC, a financial services company with more than $300 billion in assets, today announced the appointment of Toni Simonetti as vice president of Global Communications. She will report to GMAC Chief Executive Officer Eric A. Feldstein, and will be based in the company's New York offices.
Simonetti, 49, will be the chief communications officer for the company, with responsibility for communications strategy, media relations, employee communications, executive support, and community affairs and philanthropy.
Simonetti has been executive director of media relations, financial communications and public policy communications for General Motors, as well as vice president of communications for GMAC. She has led GMAC communications since January 2005 on a part-time basis, but now will move to GMAC on a full-time basis following a brief transition period.
"Toni has been a strategic communications counselor to the leadership of GM and GMAC for years," said Feldstein. "She created a financial communications discipline at General Motors, combining professional expertise in communications with proficiency in financial matters. We are fortunate to have someone with her expertise, breadth of experience, and professional stature join GMAC's senior leadership team."
Simonetti has been based in New York for more than a decade and has worked extensively with business, financial, trade, international and general media. She has overseen the communications strategy for numerous strategic transactions in which General Motors was involved, as well as balance sheet restructurings, corporate governance and management matters.
GMAC is a global financial services company that operates in 39 countries, in auto finance, residential mortgage, insurance and commercial finance businesses. With more than $300 billion in assets, it generated $2.5 billion in net income in 2005, on revenue of $19.2 billion. General Motors, which currently owns all of the stock of GMAC, recently announced it will sell a majority of its interest to a consortium of investors led by Cerberus Capital Management. The transaction is expected to close in the fourth quarter of 2006, at which time GMAC will become an independent privately held limited liability company.
Simonetti originally joined General Motors in 1985. She spent two years as director of global media relations for Raytheon Company, a $25 billion defense and aircraft company based in Massachusetts, from 1998-99. She returned to GM at the end of 1999. Prior to her GM service, Simonetti worked for about six years as a reporter and editor of local newspapers in suburban Detroit locations.
A native of Detroit, Mich., Simonetti earned a bachelor's degree in journalism (1979) and a master's degree in business administration (1990), both from Oakland University in Rochester, Mich. She is a member of the National Investor Relations Institute (NIRI), the Public Relations Society of America (PRSA), and is a candidate for The Arthur Paige Society. She resides in Westport, Conn.
GMAC Global Communications
GMAC Global Communications