Exeter reveals CFO succession plan

IRVING, Texas – 

After the closing of the company’s sale to an investor group led by Warburg Pincus as well as an expansion of its origination strategy last month, more significant changes at Exeter Finance came late on Thursday.

The non-prime auto finance company announced chief financial officer Brad Nall will retire. Nall’s successor will be auto finance industry veteran Jason Kulas, who will assume duties as the company’s new CFO and vice chairman in February.

According to a company news release, Nall has served as chief financial officer for five years and has held senior leadership roles at Exeter since 2012. In all, he has worked in the financial services sector for more than 25 years.

“Brad has been an incredible leader for our company and has played a key role in every strategic decision we’ve made as we’ve grown the company over the last five years. He has been a steady, valuable voice in the C-suite throughout his tenure as CFO, and I am personally sad to see him go,” Exeter Finance chief executive officer Jason Grubb said.

“At the same time, I’m very excited for Brad and his family. He has worked hard for a long time and has earned the retirement that’s ahead of him. We all wish him the very best,” Grubb continued.

Grubb said that Nall will remain with the company into March, assisting Kulas through a transition period. Exeter indicated Kulas will officially assume the role as CFO and vice chairman on Feb. 15.

Kulas has more than 25 years of experience in the financial services sector and has served as an Exeter board member and advisor since 2019.

Kulas is non-executive chairman of Cash Converters, and most recently served as the chief executive officer of EZCORP after previously holding positions as an independent director and as the company’s president and chief financial officer.

Kulas also served more than 10 years in the CFO, president and CEO positions at Santander Consumer USA and was a managing director of investment banking with J.P. Morgan.

“Jason understands our industry and knows our company well. He has tremendous vision and incredible leadership abilities, and I know he will be a strong strategic partner to everyone in our organization,” said Grubb, who worked with Kulas when both executives were employed at SCUSA.

“We have plans to grow Exeter to serve more auto dealers and consumers in the years ahead, and Jason is going to be a great asset to have on our executive leadership team,” Grubb added.

Exeter board chairman Tom Dundon echoed Grubb’s sentiments, offering high praise for both Nall and Kulas.

“Brad Nall has been an integral part of the executive team that turned Exeter around over the last handful of years and built it into an industry leader,” Dundon said. “We can’t thank him enough.

“As we grow the company from here, we all agree Jason Kulas is exactly the right leader to help expand our offerings and guide Exeter forward. He possesses both the experience and insight needed to succeed in this critical role, and we couldn’t be more excited,” Dundon went on to say.

Source Article