While sharing results from the first quarter of its 2018 fiscal year, America’s Car-Mart announced a major change in leadership will be coming at the end of the calendar year.

Car-Mart said in a news release posted late on Thursday that current chief executive officer William “Hank” Henderson would be moving into a role as CEO emeritus and board member of the 140-store chain of buy-here, pay-here dealerships. The change will come on Dec. 31.

Rising into the CEO post will be Jeff Williams, who has been Car-Mart’s president since last March.

“I have been with the company for over 30 years now and could not be more proud of what we have built and the position the company is in to be able to continue to prosper into the future,” Henderson said in the news release. “We have a great team in place, and the time is right for me to take a step back from the day-to-day operations.”

Henderson will continue to be involved in Car-Mart’s activities as an adviser to Williams and senior management.

“I am greatly looking forward to contributing in my new capacity, and I am very excited about the future of our business and the opportunities that lay before us,” he said.

Williams has served Car-Mart in a variety of roles, including chief financial officer, vice president finance and secretary of the company since coming aboard in October 2005.

Williams also is a certified public accountant. Prior to joining Car-Mart, his experience included approximately seven years in public accounting with Arthur Andersen & Co. and Coopers and Lybrand in Tulsa, Okla., and Dallas.

Williams’ experience also includes approximately five years as chief financial officer and vice president of operations of Wynco, a nationwide distributor of animal health products.

“Jeff has been with the company for 12 years now and has proven himself very capable of leading our efforts,” Henderson said.

Williams added, “I, too, am very excited about our future and look forward to helping the company grow as we support our customers by providing a higher level of service than competitive offerings.”

Editor’s note: More details about Car-Mart’s results and executive transition will be coming in a future story from BHPH Report.