Toyota Financial Services announced on April 3 that Scott Cooke, president and chief executive officer, will retire effective June 30 after more than twenty years with the company. Alec Hagey, currently an executive advisor at Toyota Financial Services, has been named as his successor and will take over the role of president and CEO on April 6.
The transition marks a significant change in leadership for Toyota Financial Services, which serves Toyota and Lexus customers and dealers across the United States. The company said this move is intended to ensure continued operational excellence and support for its partners.
Mark Templin, chief operating officer of Toyota Motor North America, said, “Scott’s leadership has been instrumental in shaping Toyota Financial Services into the strong, customer-focused organization it is today. His contributions have left a lasting impact on our business, our partners, and our people.”
Hagey brings more than three decades of experience with Toyota to his new position. He previously served as senior vice president and chief operating officer for both TFS and Lexus Financial Services (LFS), overseeing sales and marketing activities including dealer relations and digital initiatives. Templin said about Hagey: “Alec’s deep experience and strong relationships across our organization make him the right leader to guide TFS into the future. He understands our customers, our dealers, and our business, and he is well-positioned to build on the strong foundation Scott has established.”
Cooke will remain with the company during a transition period as executive advisor supporting operations in the Americas Oceania Region of Toyota Financial Services Corporation. Cooke said: “I am honored to have been part of Toyota Financial Services and proud of what our team has accomplished together. I have full confidence in Alec and the leadership team to continue delivering for our customers and dealers.”
Toyota Financial Services provides retail auto financing through its subsidiaries for both Toyota- and Lexus-branded vehicles in the United States. As of March 31 this year, it employed about 3,800 people nationwide with assets totaling over $150 billion.
