Dan Chait joined Southeast Toyota Finance in 2002, becoming part of JM Family Enterprises.

On Tuesday, Chait was named president of the privately held company, which generates more than $20 billion in annual revenue.

Chait, who also will remain chief operating officer, is succeeding Brent Burns as president, while Burns remains CEO.

As president and COO, the company said, Chait will be responsible for all company operations within JM Family, working closely with the senior leadership team to execute on company strategies and drive key initiatives.

“Dan’s promotion to president is well-earned, spotlighting his leadership, wealth of knowledge, and experience gained over 30 years in the automotive and financial services industries,” Burns said in a news release.

“Most importantly, Dan is deeply committed to the well-being of the 5,000 associates across our companies,” Burns continued. “He has a proven track record of enhancing results through trust, driving greater associate engagement and development, inspiring action among his teams and fostering inclusivity across the organization.”

As CEO, Burns will continue focusing on the long-term success of the company and working closely with JM Family’s board of directors.

Chait, who was named COO in May, previously held the role of president of subsidiary companies JM&A Group and Southeast Toyota Finance.

Chait’s first role with Southeast Toyota Finance was as vice president asset management. In 2007 he became group vice president responsible for Southeast Toyota Finance’s portfolio management, dealer services, operations, sales and marketing functions.

In 2011, Chait was named senior vice president, and in 2012, became president before assuming full responsibility for leading Southeast Toyota Finance and JM&A Group in 2021.

Chait also has held senior level positions with US Airways, AutoNation and UniCapital Corp.