Credit Acceptance(US:CACC) Globenewswireยท2025-10-28 12:45Leadership Transition - Kenneth S. Booth, the current CEO and President of Credit Acceptance Corporation, will retire on January 31, 2026, but will remain on the Board of Directors [1] - Vinayak R. Hegde has been appointed as the new CEO and President, effective November 13, 2025, and will transition from his current role on the Board [1][2] Executive Background - Vinayak R. Hegde has a strong background in innovation and digital transformation, having served as Consumer Chief Marketing Officer at T-Mobile US, Inc., and held leadership roles at Wheels Up Experience Inc., Airbnb, and Groupon [2][4] - Hegde has over 12 years of experience at Amazon, contributing to its growth in e-commerce and the Prime ecosystem [4] Company Performance and Future Outlook - Ken Booth expressed pride in the company's accomplishments during his tenure, highlighting a culture of excellence and a solid foundation for future growth [3] - The Board of Directors acknowledged Booth's exceptional leadership and contributions, particularly in technology, product, marketing, and process improvements [4] - Hegde aims to build on the foundation established by Booth and the team, focusing on innovation and long-term value creation for stakeholders [5] Business Model - Credit Acceptance provides innovative financing solutions that enable automobile dealers to sell vehicles to consumers with varying credit histories [5][6] - The company's financing programs help consumers improve their credit scores, allowing them to access more traditional financing options in the future [6]