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GMAC APPOINTS TWO NEW EXECUTIVES

 GMAC APPOINTS TWO NEW EXECUTIVES
 DETROIT, July 2 /PRNewswire/ -- General Motors Acceptance


Corporation today reported the following executive appointments:
 John R. Rines, president and chief operating officer of GMAC, announced that William F. Muir, general director of the General Motors Treasurer's Office, has been named vice president of large accounts for GMAC.
 Rines said, "Mr. Muir will be GMAC's primary contact with its biggest customers, and he will be responsible for coordinating activity between GMAC's executive office and branches involving these customers."
 Muir's experience as GM's key contact with major car rental companies provides a strong background for his new responsibilities at GMAC. He will be located at GMAC's headquarters in Detroit and will report to Rines.
 In addition to Muir's appointment, John D. Finnegan, executive vice president and chief financial officer of GMAC, announced that John F. Olcott has been appointed to director of asset recovery. Olcott was New York City control branch manager for GMAC.
 Finnegan noted that this new position reflects the importance of GMAC's asset recovery efforts. "Mr. Olcott is a seasoned GMAC executive with extensive operations experience," Finnegan said. "He will work closely with GMAC's executive office and other parties to facilitate selective asset recovery."
 Olcott will be headquartered in GMAC's New York regional office and will report to Frederick A. Henderson, group vice president of finance for GMAC.
 Muir, 37, earned his bachelor's degree in industrial engineering and operations research in 1977 from Cornell University and an M.B.A. in finance in 1983 from Harvard Business School. He began his career with General Motors in 1983 in the GM Treasurer's Office in New York City.
 After serving in various financial assignments, Muir was promoted to director of foreign exchange and international cash management in 1986. The following year, he was appointed director of overseas borrowings, and in 1989, he was named director of corporate finance and investor relations. Muir has been general director of the GM Treasurer's Office with responsibility for business development and investor relations since August 1990.
 Olcott, 53, a graduate of St. John's University in New York, joined GMAC in Garden City, N.Y., in 1960. He transferred to Smithtown, N.Y., in 1965 and was promoted to credit manager in Newtown Square, Pa., in 1974. He transferred to Philadelphia in the same capacity the following year.
 In 1977, Olcott was named sales manager, and in 1979, he was appointed credit manager. Also that year, Olcott was promoted to branch manager in Ocean City, N.J. He transferred to Pleasantville, N.J., in 1984 in the same capacity. In 1986, he returned to Garden City as assistant control branch manager. Olcott was named business development manager there in 1987 and has been control branch manager in New York City since 1989.
 -0- 7/2/92
 /CONTACT: T.P. Sullivan of GMAC, 313-556-1020/
 (GM) CO: General Motors Acceptance Corporation ST: Michigan IN: AUT FIN SU: PER


ML -- DE012 -- 6227 07/02/92 14:04 EDT
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Publication:PR Newswire
Date:Jul 2, 1992
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