Credit Acceptance names new CMO, two executives to depart in August

Credit Acceptance Corporation (Nasdaq: CACC) announced several leadership changes, including the hiring of a new Chief Marketing Officer and the planned departure of two senior executives, according to a company statement.

Siddharth Lal has joined the Southfield, Michigan-based auto financing company as Chief Marketing Officer. Lal spent more than 20 years at T-Mobile, most recently as Senior Vice President of Commercial Management. In his new role, he will oversee marketing and product functions.

Chief Product and Marketing Officer Andrew Rostami and Chief Technology Officer Ravi Mohan will step down effective August 14, 2026. The company said it expects both to assist with the transition of responsibilities over the following six months.

Credit Acceptance also said it has hired a new Chief Technology Officer, with a formal announcement planned for late August.

CEO Vinayak Hegde said of Lal: "Sid brings deep expertise in Product, Marketing, and business transformation, along with a proven ability to translate strategy into growth."

Separately, Kenneth Booth retired from the company's board of directors on July 21, 2026. Booth had agreed in November 2025 to remain on the board to support Hegde's transition to CEO. Booth previously served as CEO and President of Credit Acceptance during a career spanning more than 20 years with the company. Following his departure, the board has reduced its size from six to five directors, with no immediate plans to fill the vacancy.

"With that transition now complete, I believe this is the right time for me to retire from the Board," Booth said in the statement.

You May Also Be Interested In

• Pizza Hut CEO Aaron Powell resigns
• Nixxy terminates CFO, successor search underway
• General American Investors names new general counsel and CFO