Jeffrey Brown is moving from one of the biggest players in all of automotive to another.

Ally Financial announced Wednesday that Brown will be stepping down early next year after serving as chief executive officer and a member of Ally’s board of directors since 2015.

According to a news release, following his departure, Brown will become president of Hendrick Automotive Group, a longtime customer of Ally and the largest privately held automotive retail organization in the United States, with nearly 11,000 employees and 131 retail franchises across 13 states.

Ally said its board has engaged a leading global executive search firm, and the search for Brown’s successor is underway.

Brown will remain with Ally until Jan. 31 or an earlier date determined by the chair of the board to help ensure a smooth leadership transition.

“After 14 years at Ally, including nearly nine years as CEO, I am so proud of how we transformed the company from the days of GMAC to who we are today, a more strategically, operationally and financially sound organization,” Brown said in the news release.

“I sincerely appreciate the fierce commitment of my more than 11,000 Ally teammates and the culture we have been building together. The guidance of our board of directors and the deep dedication of our management team have been essential to me at every step,” he continued.

The company said Brown will address his transition during Ally’s previously announced release of its third-quarter financial results, which is scheduled for next Wednesday.

Franklin Hobbs is chair of Ally’s board.

“JB has been an exceptional leader and fellow director, steering Ally with a skilled, steady hand for nearly nine years,” Hobbs said in the news release. “He is held in the highest regard throughout the organization and the banking industry. Colleagues and peers alike value his commitment to excellence, motivating ingenuity and unrelenting dedication to the Ally culture.”

Brown reflected on his time with Ally, while turning toward the next stop of his upcoming professional journey with Hendrick.

“What began in 2009 as the financial re-engineering of a company ultimately became a bank that truly matters in the financial industry, and now is the right time for me to transition. Ally is positioned for a bright future thanks to our amazing team and the customers we are proud to support,” Brown said.

“I especially look forward to building on Hendrick’s relationship with Ally as a customer and seeing both businesses continue to grow and succeed.”

According to a blog post on the dealer group’s website, Brown will report to Hendrick Automotive Group chairman and CEO Rick Hendrick.

“I’m delighted to welcome JB to the Hendrick Automotive Group family,” said Hendrick, who will continue to serve as president until Brown’s arrival. “We’ve worked together for many years, and I consider him a friend and like-minded servant leader. At only 50 years old, he has incredible experience in both the car business and across a wide variety of complex subject matters from his tenure in the financial services industry. When I look at everything he’s already accomplished in a relatively short period of time, I believe his leadership will put us in a position to grow and be successful for decades to come.

“Our nearly 11,000 teammates across the country are the reason our company is so special, and JB understands the importance of prioritizing them, their loved ones and their personal and professional success. He recognizes the value of serving our communities and fostering a vibrant culture within our organization, and he’ll bring tremendous vision, heart and integrity to the role. I look forward to working alongside him to lead our team.”

Brown elaborated about his next professional stop through the blog entry on the Hendrick website.

“Joining the Hendrick Automotive Group family is truly a dream opportunity for me,” Brown said. “Working closely with Rick and his leadership team to continue building on their strong foundation has me very excited for the future. We have a shared alignment in leadership philosophies, passion for the automotive industry and taking great care of our people and our customers. I’m honored by this incredible opportunity and look forward to getting started.

“Leading Ally Financial for nearly nine years has been a wonderful experience. The company is well positioned to continue to thrive under a new CEO, and I’m thrilled a strong relationship between Hendrick Automotive Group and Ally will continue in the years ahead,” he went on to say.