- Push-out Score determined
- After around 19 years in the position
- Accolades, praise, thanks and words of regret for Roberts
- Ken Booth taking over
- Roberts said 89 words
(exechange) — Southfield, Michigan, April 29, 2021 — Brett Roberts, chief executive of Credit Acceptance, leaves. As announced by Credit Acceptance Corp. in a news release and in a regulatory filing published on Thursday, April 29, 2021, Brett A. Roberts leaves his post as chief executive officer at the auto finance company after around 19 years in the role, effective May 3, 2021.
It is the end of an era.
Brett Roberts’s duties as CEO will be taken over by Kenneth S. (Ken) Booth, currently Chief Financial Officer at Credit Acceptance Corp.
No reason given
In the announcement, Credit Acceptance did not explicitly explain the reason for Brett Roberts’s move, leaving room for speculation.
Precise information regarding Brett Roberts’s future plans was not immediately available.
Credit Acceptance said: “Brett A. Roberts, the Company’s Chief Executive Officer and President and a member of the Company’s Board of Directors, will retire at the close of business on May 3, 2021.”
Credit Acceptance further said: “On April 26, 2021, Brett A. Roberts, Chief Executive Officer and President of Credit Acceptance Corporation (referred to as the “Company,” “Credit Acceptance,” “we,” “our” or “us”) and a member of our board of directors (the “Board”), informed us that he has decided to retire from the Company as an officer, director and employee effective May 3, 2021.”
Share price increase since April 2016
The announcement follows an increase in Credit Acceptance Corp.’s share price of 114% since April 2016.
In the position of CEO since 2002
Brett Roberts became CEO of the Company in 2002.
Roberts joined Credit Acceptance in 1991 as Corporate Controller and was named Assistant Treasurer in March 1992 and Vice President – Finance in April 1993.
He was named Chief Financial Officer and Treasurer in August 1995.
He was named Executive Vice President and Chief Financial Officer in January 1997, Co-President in January 2000, Executive Vice President of Finance and Operations in October 2000, Chief Operating Officer in January 2001, and Chief Executive Officer in January 2002.
Roberts assumed the position of President from September 2006 until April 2007.
Roberts became a director of Credit Acceptance in March 2002.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Brett Roberts’s move on a scale of 0 to 10.
exechange reached out to Credit Acceptance and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 18.2021 ($).