As Used Car Week kicked off this Monday in Scottsdale, Ariz., Primeritus Financial Services announced a new chief executive officer. Mike Thomas has been named CEO, and the move is effective immediately. 

Thomas succeeds Scott Peters in the position, who joined Primeritus in 2015 and led the company through a period of rapid growth. 

Peters recruited Thomas as the company’s chief information officer and senior vice president of operations in 2015. In his previous position, Thomas focused on developing the company’s long-term technology and operational strategy. 

“It is a tremendous honor to have been groomed by, and to be able to succeed my long-term mentor, Scott Peters, and I look forward to building upon the foundation of success he has created,” said Thomas.  “There is no limit to where we can take Primeritus with our ongoing focus on continuous improvement and building better customer and vendor relations.” 

Used Car Week attendees can hear from the new Primeritus leader during a forwarding-focused panel discussion later today, which includes Thomas, as well as leaders from Millennium Capital & Recovery Corp., ALS-Resolvion, PAR North America, Consolidated Asset Recovery Systems and Del Mar Recovery Services.