Credit Acceptance Announces Andrew Rostami as Chief Marketing and Product Officer

Rhea-AI Summary

Credit Acceptance Corporation (Nasdaq: CACC) has appointed Andrew Rostami as Chief Marketing and Product Officer, effective April 18, 2022. Andrew, previously at Citizens, aims to enhance customer interaction and product development, supporting the company's growth and innovation. Known for building consumer-oriented businesses, he will focus on increasing brand awareness and customer satisfaction. Credit Acceptance has facilitated vehicle financing for consumers with various credit histories since 1972, helping them improve their credit scores for better financial opportunities.

Positive

• Appointment of Andrew Rostami as Chief Marketing and Product Officer to drive growth and innovation.
• Rostami's experience in consumer-oriented businesses expected to enhance brand awareness and customer satisfaction.
• Credit Acceptance's long-standing history supports credit-challenged consumers in obtaining vehicle financing.

Negative

• None.

Southfield, Michigan, April 13, 2022 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that Andrew Rostami will join our senior leadership team as Chief Marketing and Product Officer on April 18, 2022. 

In his role, Andrew will help drive growth and innovation in the ways we interact with and support our customers, both dealers and consumers, by ensuring that our customers’ needs are supported through strategy and product development. In addition, Andrew will help us build and maintain our corporate brand with the goal of increasing customer awareness, consideration, satisfaction, and advocacy and making progress toward our Company goals.

Andrew comes to Credit Acceptance from Citizens, where he was most recently President, Citizens Pay, and EVP, Head of Unsecured Lending & Cards. He has extensive experience leading the build and scaling of innovative consumer and partnership-oriented businesses which, in turn, accelerate business growth and customer loyalty. He also brings vast experience in developing and motivating high-performing organizations and leading the strategy and execution of corporate transformations. Prior to Citizens, Andrew served as Principal at Bain & Company where he led programs in areas including corporate strategy development, sales and growth acceleration, and customer experience design and implementation. His deep experience also includes time at Moore Capital Management, where he analyzed risk and portfolio strategies for a $10B+ hedge fund. Andrew began his career as a software engineer in the technology and financial services industries. He received his Bachelor of Science in the College of Engineering from Cornell University, and his Master of Business Administration from The Wharton School, University of Pennsylvania.

“I am excited to have Andrew join our senior leadership team,” said Ken Booth, Chief Executive Officer. “He brings a unique set of knowledge and experience to an already amazing team, and together, I believe we will continue moving toward achieving our goals.”

“I am thrilled to join Credit Acceptance, especially as I see the opportunity to help credit-challenged Americans improve their lives through access to financing they may not have otherwise received,” said Andrew Rostami. “This is a very special company with a rich history, deep experience and relationships, and an exceptional team.”

Description of 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.

FAQ

Who is the new Chief Marketing and Product Officer at Credit Acceptance Corporation?

Andrew Rostami has been appointed as the Chief Marketing and Product Officer effective April 18, 2022.

What will Andrew Rostami focus on at CACC?

He will focus on enhancing customer interaction, product development, and increasing brand awareness and customer satisfaction.

What is Credit Acceptance Corporation known for?

Credit Acceptance Corporation provides financing programs to help consumers with various credit histories purchase vehicles.

When did Credit Acceptance Corporation start providing financing programs?

Credit Acceptance Corporation has been offering financing programs since 1972.

How does Credit Acceptance Corporation help consumers improve their credit scores?

By reporting to the three national credit reporting agencies, Credit Acceptance helps consumers improve their credit scores through their financing programs.