Credit Acceptance Names Vinayak Hegde CEO

Credit Acceptance Corp. said Kenneth S. Booth will transition to an Executive Board Member on Nov. 13, 2025 and will retire as CEO and President on Jan. 31, 2026. The board appointed Vinayak R. Hegde, a current board member and former consumer CMO at T‑Mobile, to succeed Booth as CEO and President effective Nov. 13, 2025. Hegde will remain on the company board but will step down from the nominating and executive compensation committees. His compensation package includes a $1.1 million base salary, a $500,000 make‑whole signing bonus and 140,000 restricted shares. Hegde’s background includes senior marketing and leadership roles at T‑Mobile, Wheels Up, Blink Health, Airbnb, Groupon and more than 12 years at Amazon. Booth, who became CEO in 2021 after serving as CFO, will continue to support the company as a board member.