Toyota Financial Services announced on April 3 that Scott Cooke, its president and chief executive officer, will retire effective June 30 after more than twenty years with the company. Alec Hagey, currently an executive advisor at Toyota Financial Services, has been named as his successor and will assume the role of president and CEO on April 6.
This leadership change is significant for Toyota Financial Services (TFS), which provides financial products and services to Toyota and Lexus customers and dealers in the United States. The company said Cooke has played a key role in expanding finance and insurance capabilities, enhancing product offerings, and supporting both customers and dealers during his tenure.
Mark Templin, chief operating officer of Toyota Motor North America, said: “Scott’s leadership has been instrumental in shaping Toyota Financial Services into the strong, customer-focused organization it is today. His contributions have left a lasting impact on our business, our partners, and our people.”
Hagey brings over thirty-six years of experience with Toyota across sales, marketing, operations, and financial services. As senior vice president and chief operating officer for TFS and Lexus Financial Services (LFS), he led several key initiatives including dealer relations and digital programs. “Alec’s deep experience and strong relationships across our organization make him the right leader to guide TFS into the future,” Templin said. “He understands our customers, our dealers, and our business, and he is well-positioned to build on the strong foundation Scott has established.”
Cooke will remain as executive advisor supporting the Americas Oceania Region of Toyota Financial Services Corporation to help ensure a smooth transition. Reflecting on his career at TFS Cooke said: “I am honored to have been part of Toyota Financial Services and proud of what our team has accomplished together. I have full confidence in Alec and the leadership team to continue delivering for our customers and dealers.”
Toyota Financial Services employs about 3,800 people nationwide with assets totaling over $150 billion as of March 31. The company operates through brands such as Toyota Motor Credit Corporation (TMCC) for auto financing/leasing services; vehicle/payment protection via Toyota Motor Insurance Services (TMIS); while servicing Lexus clients under Lexus Financial Services.
