On Thursday, Credit Acceptance announced the promotion of Jay Martin to chief financial officer, a move that had become effective two days earlier.

Martin joined Credit Acceptance in 2003, serving in a variety of “increasingly challenging” roles throughout his tenure. Most recently, Martin was senior vice president of finance and accounting.

“He has played a key role in the company’s growth and overall success,” Credit Acceptance said in a news release.

In this new role, Credit Acceptance said Martin will build on that success by working closely with other senior leaders on company strategy and continuing to lead the teams responsible for accounting and financial reporting, financial analysis and operations, and tax compliance.

Martin will continue to lead the finance department together with chief treasury officer Doug Busk.

Both executives will continue to report to CEO Ken Booth

“This is a well-deserved promotion. He has always viewed the company’s financial performance and analysis through a strategic lens while developing high-performing teams,” Booth said in the news release. “I am excited to welcome him to our executive leadership team.”

Reflecting on the promotion and more, Martin added, “In addition to the company’s remarkable success, I have always admired our commitment to making vehicle ownership accessible to consumers who otherwise could not obtain financing.

“That mission is made possible by our award-winning culture, a key reason why I am thrilled to play a larger role in our next chapter,” he went on to say.