Toyota Financial Services announced that Scott Cooke will retire as president and chief executive officer on June 30, 2026, after more than two decades with the company. Alec Hagey, currently serving as executive advisor at TFS, will assume the CEO role effective April 6, 2026.

Cooke joined Toyota Financial Services in 2003 and has held leadership positions across risk, finance, treasury, and operations. As CEO, he oversaw operational and financial activities while expanding the company's finance and insurance capabilities.

Hagey brings 36 years of experience with Toyota, including roles in sales, marketing, operations, and financial services. As senior vice president and chief operating officer, he led sales and marketing for TFS and Lexus Financial Services, managing dealer relations, remarketing, and digital initiatives.

"Scott's leadership has been instrumental in shaping Toyota Financial Services into the strong, customer-focused organization it is today," said Mark Templin, chief operating officer at Toyota Motor North America, according to the company statement.

Cooke will remain with the company as executive advisor, supporting the Americas Oceania Region of Toyota Financial Services Corporation during the transition.

Toyota Financial Services operates as the financing arm for Toyota vehicles in the United States through Toyota Motor Credit Corporation and Toyota Lease Trust. The company also provides vehicle and payment protection products through Toyota Motor Insurance Services and serves Lexus customers under the Lexus Financial Services brand.

As of March 31, 2026, TFS employed approximately 3,800 team members and reported assets totaling over $150 billion. The company operates as part of Toyota Financial Services Corporation, a subsidiary of Toyota Motor Corporation (Tokyo: 7203).