Business
Credit Acceptance Announces CEO Transition: Kenneth S. Booth to Retire as CEO; Vinayak Hegde Appointed as Next CEO
Southfield, Michigan, Oct. 28, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”,
About this update from Credit Acceptance Corporation
[{"type":"text","content":"Southfield, Michigan, Oct. 28, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) today announced that Kenneth S. Booth, Chief Executive Officer and President and a member of the Company’s Board of Directors, will retire as of January 31, 2026. Mr. Booth will remain a member of the Company’s Board of Directors. The Board of Directors has unanimously elected and appointed Vinayak R. Hegde as the Company’s next Chief Executive Officer and President, effective November 13, 2025. As of this date, Mr. Booth will transition to Executive Board Member. Mr. Hegde currently serves on the Company’s Board of Directors, where he has been an active strategic partner to the leadership team for the past four years. He brings a strong history of innovation, digital transformation, and customer-focused growth across multiple industries, including technology, e-commerce, and consumer services. Most recently, Mr. Hegde served as Consumer Chief Marketing Officer at T-Mobile US, Inc., where he led marketing, revenue, and digital transformation for the company’s consumer business. “Serving as CEO of Credit Acceptance has been the honor of my career,” said Ken Booth. “My decision to retire wasn’t easy, and I’m incredibly proud of everything we’ve accomplished together. We’ve built a company grounded in purpose, performance, and care for our people. As I prepare for the next chapter in my life, I’m confident that the company is in great hands with Vinayak, and I look forward to continuing to support our mission as a member of the Board.” During his tenure, Mr. Booth led Credit Acceptance through significant periods of change, growth, and modernization, strengthening the organization’s culture of excellence and setting a solid foundation for its future. “On behalf of the Board, I want to thank Ken for his exceptional leadership and deep commitment to our people and our mission,” said Tom Tryforos, Chair of the Board of Directors. “Under Ken’s leadership we have made great strides in technology, product, marketing, customer obsession, and process improvements that position Credit Acceptance for continued success. We are grateful for his many contributions and pleased he will continue to support the Company as a member of our Board.” Mr. Hegde brings an outstanding...