TEMPE, Ariz., July 25, 2018 /PRNewswire/ -- DriveTime, the nation's second largest used car retailer focused solely on used vehicles, today announced a CFO executive succession process.
As part of its succession planning process, the Company has identified Mary Leigh Phillips as its new Chief Financial Officer. Ms. Phillips has more than 10 years of banking and capital markets experience with Wells Fargo and most recently served as a Director for Asset-Backed Finance with Wells Fargo Securities. Ms. Phillips specialized in executing lending facilities and capital markets transactions for auto finance companies, including DriveTime, since 2011.
"I want to thank Wells Fargo and all of the people who have supported and partnered with me throughout my time there. The personal and professional growth I experienced at Wells opened the door to this opportunity at DriveTime. I'm looking forward to joining the DriveTime team and working together to continue to evolve and enhance what we deliver to our customers," said Mary Leigh Phillips.
"We are very excited to welcome Mary Leigh to DriveTime and our executive team. We believe her talents and experience will be an integral part of our future success," Don Reese, CEO/DriveTime.
Kurt Wood, the Company's Chief Financial Officer, will transition out of his role as CFO of the Company. Mr. Wood has served the Company as Chief Financial Officer for four years after replacing Mark Sauder in 2014. The Company appreciates Mr. Wood's service and thanks him for his contributions over the past four years.
For more information on DriveTime, please visit drivetime.com.
Headquartered in Tempe, Arizona, DriveTime is the nation's second largest vehicle retailer focused solely on used vehicles. DriveTime operates over 145 dealerships nationwide with annual sales exceeding 150,000 used vehicles, 1.2 million+ monthly visitors to its website, drivetime.com, and over $2 billion in consumer credit requests each month. DriveTime now provides used vehicles and used vehicle financing to the full range of customers in the market today, including competitively priced, lower mileage used cars. Transforming the buying and financing of a used vehicle with a fair and transparent experience, DriveTime offerings include used car features on its online inventory; speed of financing including a credit score and the starting down payment in less than two minutes; prices on every used vehicle online and at its dealerships; no haggle pricing; salaried associates trained to help our customers find the right used vehicle for them; and a five day, no questions asked used vehicle return program.