CEO Transition at Credit Acceptance Corporation

Credit Acceptance Corporation announced the retirement of Kenneth S. Booth as Chief Executive Officer and President, effective January 31, 2026. Booth will transition to the role of Executive Board Member from November 13, 2025, until his retirement. The Board of Directors has appointed Vinayak R. Hegde as the new CEO and President, effective November 13, 2025. Hegde, currently a Board member, brings extensive experience in marketing, digital transformation, and customer-focused growth from his roles at T-Mobile US, Inc., Wheels Up Experience, Inc., and Amazon. His compensation includes an annual base salary of $1,100,000, a one-time signing bonus of $500,000, and a grant of 140,000 Restricted Stock Units. The company issued a press release on October 28, 2025, detailing the transition.