DriveItAway Holdings has a new advisor to keep the subscription-to-purchase technology provider on a positive trajectory with dealerships and other firms interested in automotive.
Now a publicly traded company, DriveItAway welcomed Rushab Doshi, a noted entrepreneur-in-residence and new venture builder. DriveItAway added Doshi on Thursday as it continues expansion of its program for large employers to enable vehicle ownership as both a means for entry level employees to get to work and to improve lives.
“We have reached several milestones as a company recently in the development and expansion of our subscription to ownership program, including now being a public company and focusing on enabling entry level folks the ability to benefit from driving and purchasing new EV vehicles currently available” DriveItAway founder and chief executive officer John Possumato said in a news release.
“Adding Rush Doshi to our team as an advisor, is truly the next stage of our national business expansion to lead the charge in getting our message to all employers throughout the nation that our vehicle ownership enablement program dramatically increases employee recruitment and retention results, while clearly fulfilling social and sustainability goals,” continued Possumato, who also moderated a panel discussion during this year’s Auto Intel Summit about these topics and more.
DriveItAway highlighted Doshi has a wealth of experience in leading groundbreaking, technology driven innovation. Doshi was most recently GM/entrepreneur in residence at EmployBridge, a large industrial staffing firm in the U.S. with more than 80,000 employees a week, focused on improving the lives of blue-collar workers, particularly in the area of transportation and vehicle access and ownership.
Doshi also has been entrepreneur in residence for Citi in the incubation of new products and services, and innovation director of MetLife in Asia, as well as founding and growing a number of his own technology based innovative start-ups.
The firm highlighted Doshi will help the DriveItAway team introduce the program to large companies in order to more effectively recruit and retain entry level employees and improve lives with access to personal transportation enabling ownership.
“I most recently have reviewed extensive data on the problems a lack of personal transportation has on the success companies have in hiring and retaining entry level employees throughout the U.S., and helped pilot the unique DriveItAway subscription to ownership program to solve this problem, in a way that not only substantially increased employer recruitment and retention, but also literally changes lives in a positive way,” Doshi said in the news release.
“I joined the DriveItAway team, as I think the need and timing is right to expand this solution dramatically for all companies that want greater success in employee recruitment and retention and are focused on tangible and measurable ESG goals. As DriveItAway now enables credit or down payment challenged employees the ability to drive to buy new EV vehicles, we squarely achieve both the 'E' and 'S' in auditable ESG achievements,” he continued.
“Access to personal transportation, to get to and from work, is a very old problem that now can be solved in an easy, transparent and sustainable way through innovative technology and programs such as DriveItAway,” Doshi went on to say.
One of the recovery industry executives who has been a regular on stage during Used Car Week is with a new company for the first time in nearly 20 years.
On Wednesday afternoon, DRN and MVTRAC announced that Cortney Osborne has joined the company as its chief client officer to lead sales, business development, client services and customer support teams for the DRNsights product suite.
The company said Osborne also will focus on building strong client relationships through strategic account management and developing a high level of business intelligence among our sales and account teams.
“We’re excited to bring Cortney on to help us build on our strong product suite and improve our go-to-market and customer service capabilities,” DRN and MVTRAC president Jeremiah Wheeler said in the news release.
“With her strong history in auto finance, recovery and repossession, I know she’ll be a great asset both to DRN and MVTRAC as well as to our clients, who’ll benefit from her years of experience in the industry,” Wheeler continued.
Osborne joins DRN and MVTRAC from American Recovery Service, where she served as executive vice president of operations and chief services officer for almost 18 years.
While at ARS, Osborne led business development, client services and operations for their nationwide repossession and skip services business, including the development of the first forwarder LPR dispatch process in 2010. She also played a key leadership role in managing performance of the full ARS portfolio and planning and executing ARS’ long-term business strategy.
Furthermore, Osborne served as the moderator of the Women in Auto Finance panel discussions during Used Car Week, a conference segment that’s featured leading women from banks, captives and an array of industry service providers.
“I’m thrilled to join DRN and MVTRAC and be part of their already industry-leading team,” Osborne said in the news release. “Having spent the last 17+ years in the repossession business, I know this company’s reputation for innovation, thought leadership and client service. I’m excited to continue advancing our products to exceed client expectations and help us rise to the next level.
“I look forward to learning DRN’s and MVTRAC’s businesses and getting to know each and every client to understand how we can help you be successful and reach your goals,” she went on to say.
EFG Companies promoted 21-year retail automotive veteran James Colman to regional vice president of dealer services, and for good reason, based on details mentioned in a company press release distributed on Tuesday.
EFG highlighted Colman leads his team that generates a current average PRU across its client base of $2,051 through an “exceptional level of service and customer engagement by cultivating a consultative approach that maximizes F&I profitability.”
“This approach includes taking complex business objectives and turning them into actionable programs with defined key performance indicators, pay plans and ongoing training,” the company continued in the news release.
Colman began his career as Finance Director at Van Tuyl Auto Group, followed by a position as a Finance Director for Eckert Hyundai, where he was responsible for creating the F&I department from scratch, creating processes for the sales floor, and expanding the dealership’s relationships with multiple finance companies.
Colman has been with EFG Companies since 2014 and is Master AFIP-certified from the Association of Finance and Insurance Professionals.
“The biggest difference that I have seen between EFG and my previous F&I provider has been the talent of the account executives,” said Chris Marhofer, president and chief operating officer of Ron Marhofer Auto Family, a six-location dealership group based in Ohio. “EFG’s account executive team consistently comes to us with a plan to meet our goals, including a 90-day to 120-day execution strategy.
“If I had to pick one word to describe EFG, it would be partner. I feel like we’re in this together and they’re here to help me,” Marhofer continued in EFG’s news release.
On Monday, APCO Holdings announced its third executive move so far this year.
After actions involving its senior vice president and chief information officer as well as with its senior vice president of marketing and strategy, the provider and administrator of automotive F&I products and home to the EasyCare and GWC Warranty brands announced a new chief financial officer.
Joining APCO is Bob Haeffner, who has nearly 30 years of financial and accounting experience and a deep understanding of the automotive retail industry, according to a company news release.
APCO highlighted that Haeffner brings a wealth of industry experience in accelerating growth and raising capital, strategic business planning, mergers and acquisitions, and corporate governance.
APCO Holdings chief executive officer Scot Eisenfelder pointed out that Haeffner’s understanding of F&I provider economics and competitive dynamics will be crucial to increase APCO’s momentum and drive strong business fundamentals.
“Bob is a proven finance leader who brings a unique combination of strategic and capital allocation discipline, F&I and automotive knowledge, and experience driving operational transformation,” Eisenfelder said in the news release. “We were very thorough in our search to find someone with the knowledge to guide our continued growth.
“I look forward to partnering with Bob as we continue to execute our bold strategy to accelerate innovation and achieve our goal of continued long-term revenue growth and profitability for our partners,” Eisenfelder continued.
Haeffner comes to APCO with significant financial executive experience in consulting and the automotive sector. He started his career with Deloitte and KPMG before joining JM Family Enterprises, where he spent more than 18 years in progressive roles before being named vice president and chief financial officer of JM&A Group in 2010.
Most recently, Haeffner served as vice president and CFO of Southeastern Toyota Distributors.
“It is extremely exciting to join a company that has been phenomenally successful and has the potential for significant growth for many years to come,” Haeffner said. “I am confident that with the executive team’s commitment to strategic planning and execution, we will be able to use APCO’s current industry-leading position as a springboard for continued evolution. I look forward to working as part of this dynamic team.”
During the past six months, McGlinchey’s consumer financial services compliance team has added eight new attorneys (including two members) in five offices, including Albany, N.Y., Cleveland, Houston, New Orleans and Washington, D.C.
According to separate announcements, the newest additions are Amy Greenwood-Field, who has joined the firm as a member (partner) in the Washington, D.C. office., and Aaron Kouhoupt, who has rejoined the firm as a member (partner) in the Cleveland office.
All told, McGlinchey operates from 15 offices with 140 attorneys licensed in 28 states.
And now both Greenwood-Field and Kouhoupt are part of that roster.
McGlinchey highlighted that Greenwood-Field focuses her practice on counseling financial institutions on a national basis in matters related to licensing and examinations, residential and commercial mortgage lending, consumer loans, debt collection and cryptocurrency transactions.
Before joining McGlinchey, Greenwood-Field served as counsel at Dentons, where she represented financial service providers in regulatory, licensing, examination, enforcement and compliance matters.
“We are excited to welcome Amy to McGlinchey,” said Mark Edelman, chair of the firm’s consumer financial services practice group. “Her experience will enhance our already robust national licensing practice and our money services business expertise.
“We look forward to providing our clients with legal strategy informed by her vast experience in many aspects of consumer finance law,” Edelman continued in a news release.
A former state regulator for 15 years, McGlinchey noted that Greenwood-Field is a nationally recognized leader on Nationwide Multistate Licensing System (NMLS) compliance. She assists clients with compliance issues and interaction with regulatory agencies, on both the state and federal levels, regarding licensing, audits, examinations, and enforcement actions.
The firm added that Greenwood-Field’s skillset includes researching regulatory requirements and maintaining compliance with complex consumer finance regulatory demands.
“I was drawn to McGlinchey because of the depth of their financial services team,” Greenwood-Field said in the news release. “I’ve worked alongside McGlinchey attorneys for years in various industry settings and they are colleagues for whom I have great respect. I look forward to growing my practice as part of this firm.”
Greenwood-Field offers particular capabilities for fintechs in transactions involving cryptocurrency, virtual currency and digital assets. She also serves as the chair of the Money Transmitter Regulators Association (MTRA) Industry Advisory Council (MTRA). The committee consults, advises and assists the MTRA board of directors on issues relating to money services business regulation.
With Greenwood-Field hire, McGlinchey is the only firm to have attorneys serve in leadership roles across three major consumer financial services industry advisory councils. In addition to Greenwood-Field role with the MTRA, Jeff Barringer serves as a member of the Industry Advisory Council for the American Association of Residential Mortgage Regulators (AARMR) and Robert Savoie serves as an Industry Advisory Council member for the NMLS.
“Amy is a wonderful addition to our D.C. office,” said Megan Ben’Ary, managing member of the firm’s Washington, D.C. office. “We are proud to provide exceptional legal and business counsel to our clients, and Amy’s impressive background will allow us to continue to meet this standard of excellence.”
Meanwhile, McGlinchey also announced that Kouhoupt has returned to the firm, focusing on advising traditional banks as well as fintech startups navigating the federal regulatory regime surrounding bank partnership programs and launching consumer finance products on a national scale.
“It is great to be back at McGlinchey among attorneys I know and trust,” Kouhoupt said in another news release. “Together, we will continue to deliver exceptional service to our consumer financial services and other clients.”
Kouhoupt returns to McGlinchey after serving as head of compliance and U.S. legal for Curve, a digital payments company, for which he will continue to provide legal counsel.
McGlinchey highlighted that Kouhoupt also has experience working in house at various financial institutions, including traditional banks, a peer-to-peer lending and alternative investing company, and with a European company launching a U.S. consumer finance product.
“We are happy to welcome Aaron back home at McGlinchey,” Edelman said in the other news release. “He brings to clients a range of industry knowledge forged from a first-hand understanding of their opportunities and challenges.”
Kouhoupt regularly advises clients on matters involving the Banking Secrecy Act (BSA), Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), Truth in Lending Act (TILA)/Real Estate Settlement Procedures Act (RESPA) Integrated Disclosure (TRID), State Banking Regulation and Legalized Marijuana, the Military Lending Act and the Home Mortgage Disclosure Act (HMDA).
“Aaron brings a wealth of knowledge and insights to our office and across the firm,” said Kelly Lipinski, managing member of the Cleveland office. “He has served our clients well with his knowledge of consumer finance law, and we know that his work will continue to yield tremendous benefits. We are glad to have him back.”
Along with naming a new general counsel to fill a void created by retirement, Exeter Finance recently launched its new, comprehensive dealer portal.
The finance company that specializes in non-prime and subprime paper highlighted that its portal now available nationwide and can provide dealers with “better, faster service as they help their non-prime and near-prime customers purchase the vehicles they need.”
Exeter Finance said through a news release that the new dealer portal can provide real-time access to current application status, as well as the ability to rehash and discuss deals with Exeter’s buyers and funders via live chat.
In addition, when dealers use Dealertrack or RouteOne to access the portal, Exeter said dealers have immediate, direct access to important information regarding any callback they receive.
Plus, the e-contracting process is simplified and document uploading is easy and intuitive, according to the finance company.
“We have leveraged our deep expertise in lending and technology to build a new, digital platform unlike any other in our segment of the market,” Exeter senior vice president of loan originations Jerad Brown said in the news release. “We’ve made it simple for auto dealers to conduct business and communicate with us fully via our portal — especially if they use special features like our chat functionality and document-uploading capability.
“It has never been easier to work with Exeter, and we hope dealers will rely on it to help their customers,” Brown continued.
Exeter noted that the roll-out follows a successful pilot program that allowed select dealers to experience the finance company’s simplified and expedited application and funding processes within the digital platform during the past 90 days.
Based on that success, Exeter’s dealer portal has now been made available to the approximately 12,000 franchised and independent dealers the company works with nationwide.
Dealers not yet working with Exeter are encouraged to sign up or submit an inquiry to the company’s dealer operations group.
New general counsel
In other company news, Exeter also recently announced that Eldridge Burns assumed duties as the company’s new general counsel on March 31. The move was made because executive vice president and general counsel Walt Evans will retire.
According to another news release, Evans served as Exeter’s general counsel for 14 years and has held senior legal executive positions for more than 30 years.
Before joining Exeter, Evans also worked for ACE Cash Express and Hollywood Casino Corp., a publicly traded gaming company.
Exeter chief executive officer Jason Grubb said Evans has been a tremendous asset to the company, and he wished the veteran leader all the best in retirement.
“Walt has been with Exeter almost since the company was founded in 2006. He has provided not only stellar legal counsel through the years, but also tremendous insight and perspective as the company has grown,” Grubb said in the news release. “He’s incredibly steady and thoughtful, and we can’t thank Walt enough for his contributions to our success. We all wish him the very best in the retirement that’s ahead.”
Grubb said that Evans will remain with the company until the end of April assisting Burns through a transition period. Burns officially assumed the role as Exeter’s executive vice president and general counsel on March 31.
Burns will lead the legal and compliance departments, as well as serve on the company’s executive leadership team.
Exeter highlighted that Burns has more than 25 years in the legal field with extensive experience in financial services, regulatory compliance and capital markets. He most recently served as EVP and chief legal officer at Mr. Cooper Group Inc.
Previously, Burns was general counsel at TopGolf, and before that he was chief legal officer and general counsel for Santander Consumer USA.
“First and foremost, Eldridge understands financial services and auto finance. He is a veteran in our industry and brings vast subject-matter expertise and leadership skills to our organization,” Grubb said. “Beyond that, he also has a sharp legal mind that is essential to have on the Exeter team as we strive to meet the needs of our many stakeholders.
“We’re truly fortunate to be able to bring someone of his caliber to Exeter at this critical point in our journey,” Grubb went on to say.
APCO Holdings recently promoted one of its executives who has been with the provider and administrator of F&I products and home to the EasyCare and GWC Warranty brands for more than 15 years.
Ascending into the role of senior vice president and chief information officer is Monte Pinkett, who joined APCO in 2005.
According to a news release, Pinkett initially focused on supporting IT applications and driving the company’s technological innovation.
Since arriving 17 years ago, APCO said Pinkett’s leadership in business systems transformation, strategic application development and IT alignment with business goals has been essential to the company’s growth and competitive positioning within the industry.
Now as SVP and CIO, the company said Pinkett will continue to provide the vision and guidance needed to develop and implement systems, tools and processes founded through innovation to drive business evolution and efficiencies.
“Monte’s leadership and extensive experience in the automotive technology space have strengthened our team and helped define us as a transformative force in the industry,” APCO Holdings chief executive officer Scot Eisenfelder said in the news release.
“In his new role, he will accelerate our ability to use software, data, and technology to drive smart, scalable growth across our business and reach an even higher level of success. I’m excited to announce his addition to my leadership team,” Eisenfelder continued.
Previously, Pinkett served as IT senior manager at the Home Depot and began his career at IBM.
After serving for more than four years as the president of PAR North America, Lisa Scott is embarking on her next professional chapter, transitioning from repossessions and recoveries to digital wholesaling.
On Wednesday, E Automotive named Scott as the company’s new chief revenue officer.
An award-winning and highly experienced senior executive, Scott brings more than 25 years of leadership experience in the automotive industry. According to a news release, she joins the executive team in a move meant to help the company realize its high growth potential as it rapidly expands its digital wholesale EBlock platform across the United States.
“Lisa brings an extensive depth of experience, relationships and passion for the industry,” EBlock president and chief executive Jason McClenahan said in the news release. “She is a driven leader and will be a strong addition to our experienced team, as we deliver on our vision of providing best-in-class technology supporting our dealer partners through this dynamic time for our industry.”
Along with her time at PAR North America, Scott also has served in a variety of senior leadership roles within ADESA Canada, including vice president of sales and marketing for ADESA, OPENLANE and Atlantic Operations, culminating in her role as the chief client officer.
In addition to her professional experience, Scott has served on several industry boards, including chair of the Canadian committee of the National Auto Auction Association (NAAA) and co-chair of the Canadian chapter of the International Automotive Remarketers Alliance (IARA). She has been recognized with several awards, including Auto Remarketing’s Women in Remarketing, the International Automotive Remarketing Alliance (IARA) Builders Award, and the Outstanding Contribution to the Canadian Automotive Industry award.
“I’m thrilled to be joining E INC as the company executes its growth strategy across the United States,” Scott in the news release about her decision. “It’s exhilarating to join such a fast-growing technology company that is focused on providing solutions for dealers both in Canada and the U.S. as it continues to grow its business during unprecedented times.
"E INC has an incredible team, and I look forward to digging in to help them build the team and accelerate their revenue and growth goals," she went on to say.
APCO Holdings, a leading provider and administrator of automotive F&I products and home to the EasyCare and GWC Warranty brands, recently announced that Kate Eltringham has been promoted to senior vice president of marketing and strategy.
According to a news release, Eltringham joined APCO in 2013 as director of marketing for the GWC Warranty brand, leading strategic marketing and product initiatives. In 2015, she was promoted to vice president of marketing at GWC and in 2019 her role expanded to vice president of marketing for all APCO Holdings brands.
During her tenure, the company highlighted that Eltringham has led the marketing team on many initiatives that have played an integral role in the company’s growth within the industry.
The company said her leadership of the recently aligned marketing and strategy departments will strengthen the organization’s ability to look forward and outward to position APCO for continued success.
“Kate joined APCO with a broad range of marketing, analytics, and strategic planning experience and has been instrumental in the company’s growth and innovation over the years,” APCO Holdings chief executive officer Scot Eisenfelder said. “As we map out our priorities for 2022 and beyond, her deep understanding of our business and the complexities of a changing industry will be invaluable as we continue to execute and build upon our momentum.”
An honoree among Auto Remarketing’s Women in Remarketing as well as a 40 Under 40 honoree Eltringham previously held progressive roles with CIW Enterprises and InterMetro Industries, a former business unit of Emerson Electric Corp.
Tanya Stevenson spent more than 16 years at Portfolio. Stevenson now is bringing her experience and expertise to another F&I service provider.
Last week, National Auto Care announced the addition of Stevenson, who joined the company as director of sales operations.
In this role, the company said Stevenson will report to NAC chief integration officer Christina Schrank helping to onboard agency and dealership clients and integrate the company’s large portfolio of acquisitions by identifying various synergies.
According to a news release, the director of sales operations role is a new one for NAC, which has provided F&I products, administration, consulting services, training and marketing support to independent agents, insurance companies, financial institutions, third-party administrators and credit unions for more than 35 years.
Stevenson comes to NAC with more than 16 years of experience in the warranty administration business, most recently as vice president of sales and marketing for Portfolio, another automotive F&I product provider.
NAC highlighted that Stevenson is a renowned industry expert in providing positive customer experiences through sales support and in marketing and developing F&I products. She is a past honoree for P&A Magazine’s 40 Under 40 and was featured in P&A Magazine’s Women in the Industry.
“I’m proud to be joining the NAC family with such a talented group of people and exceptional leaders,” Stevenson said in the news release. “The company’s extraordinary track record of growth and success makes for such an exciting time to be coming aboard. The addition of this role, with my unique skillset and experience, will drive major results for NAC’s client and customer satisfaction.”
Along with hiring Stevenson, the F&I provider has been in growth mode, completing a dozen acquisitions since 2020.
“Tanya comes to us with a wealth of industry knowledge which will be valuable to our team and our partners as we continue to execute on our aggressive growth strategy. But what I am most excited for is that she shares a key NAC value — putting customer focus in all things we do,” Schrank said.
For more information on NAC, visit nationalautocare.com.
