Steven Rattner is stepping down as the head of the federal government’s auto task force, which oversaw the bankruptcy proceedings of General Motors and Chrysler, Treasury Secretary Timothy Geithner announced today in a news release.
Ron Bloom, who worked alongside Mr. Rattner at the task force, will take over as the administration’s chief auto industry adviser, the release said.
Before joining the auto task force early this year, Mr. Rattner was a managing principal of Quadrangle Group, a private equity firm he co-founded.
Mr. Geithner said in the release that Mr. Rattner would return to private life and his family in New York. Mr. Rattner could not immediately be reached for comment about his plans, and Meg Reilly, a Treasury Department spokeswoman, did not return calls seeking further details.