While also sharing a brief look at its financial standing, Reynolds and Reynolds altered its top-level executive team on Wednesday.

Succeeding president Rob Nalley, who was named vice chairman of Reynolds, is Ron Lamb. The company indicated both executives will report directly to Reynolds chairman and chief executive officer Bob Brockman.

The new roles are effective immediately, the company said.

Previously, Lamb held the position of senior vice president of sales at Reynolds. Lamb has been with the company for nearly 20 years in a variety of sales and marketing leadership positions. Additionally, he has served as general manager of the company’s Web Solutions business.

Reynolds named Lamb vice president of sales back in 2005 and then senior vice president of sales three years later.

“I’ve gotten to know and appreciate Ron’s abilities as we’ve worked together closely over the last several years,” Brockman highlighted.

“He’s well versed in the industry and thoroughly understands Reynolds’ customers and the opportunities we have for success in the future,” Brockman added.

The Reynolds CEO then reflected on why these executive changes have been made.

“Throughout my career, I have always taken a measured approach to putting leaders in place to gain the experience and training necessary to be equipped to run the organization in the future, for the next generation, so to speak,” Brockman began.

“Reynolds is a large and complex organization — and we compete in a unique, complex business. This is one more step in that deliberate process,” he continued.

Reynolds also divulged a few details about its finances. Brockman reiterated that Reynolds is a privately held company and does not report its business results publicly. However, Brockman did add that the company’s 2010 showing was “stronger this year and it appears the automotive industry has stabilized from two years of recession, and dealerships largely are operating more effectively and profitably. All of which bodes well for Reynolds.”