The parade of high-level executive leadership changes at Santander Consumer USA continued on Monday with the resignation of Jason Kulas as president and chief executive officer, effective immediately.

According to a news release, succeeding Kulas — who had held the finance company’s CEO role for a little more than two years — is Scott Powell, who will continue to serve as CEO of Santander Holdings USA (SHUSA) and as Santander Group’s U.S. head. After more than a decade of service, Kulas is stepping down to pursue other opportunities, the release indicated.

The company’s filing with the Securities and Exchange Commission noted that Kulas submitted his resignation as a member of the board on Friday. Then on Sunday, he submitted his resignation as president and chief executive officer.

Kulas took control of Santander Consumer USA in July 2015 after founder Thomas Dundon departed the finance company. Since that time, Blythe Masters held a position on the finance company’s board, and then relinquished it as current chairman Bill Rainer was elevated.

Now, Powell is leading SCUSA’s efforts, bringing with him extensive auto and risk management experience from more than three decades working in retail banking, risk management and consumer and auto financing.

Prior to joining Santander, Powell held a variety of senior roles at JPMorgan Chase & Co., including head of banking and consumer lending operations, CEO of consumer banking and retail investments, head of retail lending, head of Chase Auto Finance, and chief risk officer, consumer. He also spent 14 years at Citigroup and its predecessors in a variety of senior risk management roles.

“Scott’s depth of experience makes him the right person to continue SC’s evolution and to sustain its long-term performance,” Rainer said. “Scott’s role as both SHUSA CEO and SC CEO will position SC to grow, to strengthen its commitment to customers and to progress toward operating at major financial institution standards.

"Scott has led significant changes across Santander's U.S. business, including improving the financial performance of Santander Bank, leading SHUSA's efforts to have its capital plan approved after passing the Federal Reserve's capital stress test and overseeing the work that led to the termination last week of SHUSA's 2014 Written Agreement with the Federal Reserve,” Rainer continued.

“As we welcome Scott to his new role, the SC board also thanks Jason Kulas for his service to SC, and wishes him well,” Rainer went on to say.

Powell first joined the Santander portfolio of companies in 2015, as well.

“I look forward to leading the Santander Consumer team,” Powell said. “My focus will be on strengthening the company’s financial and operational performance, delivering returns for all shareholders, improving risk management and putting our customers at the center of everything we do. That includes a focus on continuing to deliver value for Chrysler, a key part of Santander Consumer's business.”

In addition, Mahesh Aditya, chief operating officer of SHUSA, has been appointed to SC's board of directors.

The company highlighted Aditya has extensive experience in consumer lending and risk management. Prior to joining Santander, he was chief risk officer of Visa. He also spent 17 years at Citibank, and held senior operations and risk positions with JPMorgan Chase and Capital One.