Credit Acceptance Promotes Jay Martin to Chief Financial Officer
January 25 2024 - 4:01PM
Credit Acceptance Corporation (Nasdaq: CACC)
(referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or
“us”) announced today the promotion of Jay Martin to Chief
Financial Officer, effective January 23, 2024.
Since joining Credit Acceptance in 2003, Mr.
Martin has been successful in a variety of increasingly challenging
roles throughout his tenure, including his most recent role as
Senior Vice President, Finance and Accounting. He has played a key
role in the Company’s growth and overall success. In his new role,
he will build on that success by working closely with other senior
leaders on Company strategy and continuing to lead the teams
responsible for accounting and financial reporting, financial
analysis and operations, and tax compliance. Mr. Martin will
continue to lead our Finance department together with Doug Busk,
Chief Treasury Officer. Both will continue to report to Ken Booth,
Chief Executive Officer.
“This is a well-deserved promotion. He has
always viewed the Company’s financial performance and analysis
through a strategic lens while developing high-performing teams,”
said Mr. Booth. “I am excited to welcome him to our executive
leadership team.”
“In addition to the Company’s remarkable
success, I have always admired our commitment to making vehicle
ownership accessible to consumers who otherwise could not obtain
financing,” said Mr. Martin. “That mission is made possible by our
award-winning culture, a key reason why I am thrilled to play a
larger role in our next chapter.”
Credit Acceptance is scheduled to report
quarterly earnings on Wednesday, January 31, 2024. The earnings
call can be accessed by visiting the “Investor Relations” section
of our website at ir.creditacceptance.com.
About Credit Acceptance
Corporation
Since 1972, Credit Acceptance has offered
financing programs that enable automobile dealers to sell vehicles
to consumers, regardless of their credit history. Our financing
programs are offered through a nationwide network of automobile
dealers who benefit from sales of vehicles to consumers who
otherwise could not obtain financing; from repeat and referral
sales generated by these same customers; and from sales to
customers responding to advertisements for our financing programs,
but who actually end up qualifying for traditional financing.
Without our financing programs, consumers are
often unable to purchase vehicles or they purchase unreliable ones.
Further, as we report to the three national credit reporting
agencies, an important ancillary benefit of our programs is that we
provide consumers with an opportunity to improve their lives by
improving their credit score and move on to more traditional
sources of financing. Credit Acceptance is publicly traded on the
Nasdaq Stock Market under the symbol CACC. For more information,
visit creditacceptance.com.
Investor Relations: Douglas W. Busk
Chief Treasury Officer
(248) 353-2700 Ext. 4432
IR@creditacceptance.com
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