Credit Acceptance Corporation Announces Addition of Executive Vice President - Finance and Addition to Board of Directors.Business Editors SOUTHFIELD, Mich.--(BUSINESS WIRE)--June 27, 2001 Credit Acceptance Corporation (Nasdaq:CACC CACC Center for Animal Care and Control CACC Canadian Association for Community Care CACC Central Alabama Community College CACC Chilterns Association of Camera Clubs (United Kingdom) ) today announced the appointment of Matthew F. Hilzinger to the newly created position of Executive Vice President - Finance. Hilzinger will report to Brett A. Roberts, the Company's Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , and direct the Company's worldwide finance and accounting activities. Most recently, Hilzinger served as Vice President, Controller for Kmart Corporation. Hilzinger brings 16 years of experience to the Company, the last four years with Kmart Corporation where he held key roles in supply chain operations, treasury and strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. . Prior to Kmart, Hilzinger spent seven years with Handleman Company in a variety of operational and financial roles including international experience. He also worked for Arthur Andersen For the U.S. Supreme Court case commonly known as Arthur Andersen, see . Arthur Andersen LLP, based in Chicago, was once one of the "Big Five" accounting firms (the other four are PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG), performing & Co. for five years in the audit division of the Detroit office. Brett A. Roberts stated, "Matt brings skills and experience to our team that will help us manage what we expect will be a much larger and more complex organization in the future. We are looking not only at what he can add today, but also what we will need five to ten years out." The Company's Chief Financial Officer, Doug Busk busk intr.v. busked, busk·ing, busks To play music or perform entertainment in a public place, usually while soliciting money. , will report to Hilzinger and continue in his current role, with an emphasis on managing the Company's capital raising activities including the Company's bank relationships and asset securitizations. Additionally, the Company announced that Daniel P. Leff will join the Company's Board of Directors. Leff is presently Chief Operating Officer of Enron Energy Services Enron Energy Services (EES) was a business unit of Enron Corporation, whose purpose was to provide gas, electricity, and energy management directly to businesses and homes. Enron compared the service to choosing a telecommunications company to provide your house with a phone line. , one of four business segments of Enron Corp, where he has been employed since 1997. Enron has received numerous awards for excellence including being awarded "America's Most Innovative Company" by Fortune Magazine for an unprecedented six consecutive years. Additionally, Enron has been recognized by Fortune Magazine for its quality management and employee talent. Prior to Enron, Leff served as President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of FMES FMES Florida Medical Educational Services (online continuing medical education company) FMES Failure Modes and Effects Summary (reliability) Incorporated. Donald A. Foss, Chairman and Chief Executive Officer of the Company, stated, "We are pleased to welcome Dan to our Board. We are confident that his leadership and experience will prove to be extremely valuable as we continue to profitably grow our company." Credit Acceptance Corporation is a specialized financial services company which provides funding, receivables management, collection, sales training and related products and services to automobile dealers selling vehicles to consumers with limited access to traditional sources of consumer credit. |
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