Reynolds and Reynolds announced late on Thursday that president Ron Lamb has stepped down, effective immediately. 

The dealership management system provider said Lamb plans to pursue opportunities in private equity and that the position will not be immediately filled.

In making the announcement, Reynolds chairman and chief executive officer Bob Brockman said, “Ron has made a significant contribution to Reynolds over the years. He’s a talented executive, and we wish him well in his future endeavors.”

Reynolds recapped that Lamb was named to the position in 2010 and had been with the company for 25 years.

“Reynolds ended 2016 as one of its strongest years in the past decade and that momentum has carried over into this year,” Brockman said.

“With the strength of our product portfolio and the depth of talented bench strength in our executive ranks, we are looking forward to the opportunities ahead and to our continued growth,” he added.

The executive development arrived a little more than a month after Reynolds and Reynolds Canada and BMW Group Canada announced a new, multi-year agreement between the two companies for Reynolds to provide its dealership management system — ERA-IGNITE — to all BMW and MINI retailers in Canada.