World Omni Financial Corp. revealed Wednesday it has named a new president.

Tapped for the position is Dan Chait, who joined World Omni in 2002 after holding senior-level positions at US Airways, AutoNation and UniCaptial Corp.

Chait, who most recently served as senior vice president at World Omni, will be replacing Frank Armstrong, who has announced his retirement as president of the company.

Highlighting the new president’s role, the company explained that Chait is responsible for the strategic and operational management of World Omni and its divisions, including:

• Southeast Toyota Finance, which provides financial products to Toyota dealerships and consumers in the Southeast U.S.
• CenterOne Financial Services, a provider of portfolio services designed to improve the performance of client portfolios
• DataScan Technologies, a global provider of wholesale floorplan accounting and risk management systems
• DataScan Field Services, a floorplan inventory verification and vehicle inspection company.

Chait will also continue serving as a member of JM Family’s Executive Management Team, officials added.
 
Colin Brown, president and chief executive officer of diversified automotive company JM Family Enterprises Inc., also reflected on Armstrong’s tenure as president: “Frank has been an integral part of our success since joining the company in 2001. We understand and support his decision to retire and are grateful for his service.

 “Dan’s appointment to president is a testament to his leadership and proven commitment to our company and our associates. With his extensive experience in the financial services industry and the collective efforts of our World Omni team, we are well positioned for continued growth,” Brown continued.

Officials noted that since Armstrong became president of World Omni in November 2008, “the company experienced significant growth and achieved its best financial results.

“His desire to be closer to his longtime home in central Florida and continue recovering from recent back surgery were important factors in his decision to retire,” the company said.

Armstrong will serve as an adviser to Chait through the end of the year.