RVI Group has promoted both Daniel Egan and Michael McGroarty to serve as co-chief operating officers in fulfillment of its redesigned organizational structure, the company announced Monday.

Egan and McGroarty will now report to RVI chief executive officer Douglas May, and all other company senior leadership will report to either Egan or McGroarty.

“During their long tenure with the company, Dan and Mike have each contributed significantly. Their unique skill sets have been invaluable to RVI and complement each other well for a dynamic partnership as co-COOs,” May said in a news release announcing their promotions.

“We are grateful for their leadership and commitment. We have tremendous confidence in Dan and Mike’s leadership. They have the full support of the board and our employees to lead strategy and business operations to support growth and profitability into the future,” May said.

Egan, who most recently served as RVI executive vice president and chief risk officer, has been with RVI since 1996.

In his new role, the company said that he will continue to lead the company’s risk management team, but his oversight has grown to also include overseeing of RVI’s commercial equipment business and accounting functions.

Egan brings a deep understanding of residual value insurance. Prior to taking on his prior position as chief risk officer, he was responsible for managing RVI’s commercial equipment business for several years, the company said.

Meanwhile, McGroarty, who has been with RVI for about 11 years, most recently served as RVI executive vice president, general counsel and secretary.

Along with managing RVI’s information technology, human resources, passenger vehicle and Transition Services subsidiary businesses, McGroarty is also responsible for heading the company’s legal and commercial real estate departments, according to RVI.