Mike Groff
A leadership change at Toyota Financial Services in Plano will have longtime Toyota executive Mark Templin replace the retiring Mike Groff as president and CEO at the company that’s seen an expanded commitment to corporate social responsibility.
Toyota Motor Corp., the Japanese automaker whose North American headquarters is in Plano, has been undergoing a transformation over the past year under the leadership of CEO Akio Toyoda who is overhauling major divisions and enacting leadership changes.
Groff began working for what was then Toyota Motor Credit Corp. in 1983 as its seventh employee, according to Toyota. He would later help rebrand TMCC and Toyota Motor Insurance Services into what is now Toyota Financial Services.
“I know that we can be a great partner to the automotive side of the business in achieving Akio Toyoda’s vision of mobility for all.”
Mark Templin
“Mike has positioned the company for continued success, and I look forward to building on our strong heritage of delivering the best products and services to meet the needs of our customers and dealer partners,” Templin said in a release. “I know that we can be a great partner to the automotive side of the business in achieving Akio Toyoda’s vision of mobility for all.”
According to the automotive press, Toyota’s transformation has shown up already in the showrooms with redesigned models, an upcoming sports car with BMW, eliminating one of its brands, and reinvigorating its luxury Lexus line.
TOYOTA FINANCIAL OFFERS FINANCING, LEASING
Toyota Financial Services — which has 3,300 team members around the word — is the finance and insurance arm for Toyota in the United States. It offers retail financing and leasing through Toyota Motor Credit Corp.
Groff was noted for expanding Toyota Financial Services corporate responsibility commitment by introducing a series of programs to support underserved youth, provide scholarships, and promote financial education among America’s youth.
First joining Toyota in 1990, Templin has served as chairman of the board of Toyota Motor Credit Corp. since May 2016.
“Mark brings a global depth of knowledge and experience in both the finance and automotive sides of the business,” Groff said in a release. “He understands how to meet the needs of our dealer partners and our distributor affiliates. His Lexus background means he knows how to deliver best-in-class customer experiences.”
Toyota Financial Services has received the Points of Light Foundation Civic 50 award four times. The award recognizes the 50 most community-minded companies in the U.S.
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