Automotive Finance Corp. President and CEO Steps Down
ALLETE Automotive Services, a wholly owned subsidiary of ALLETE Inc., announced that John Fuller, president and chief executive officer of Automotive Finance Corp. (AFC), has stepped down.
AFC’s management team will continue under the leadership of Brad Todd, who has served as chief operating officer of AFC for the past six years. Todd will report to Jim Hallett, chairman and CEO of ALLETE Automotive Services.
AFC and the ADESA Corp. were acquired by ALLETE in 1995.
AFC is a provider of floorplanning for independent car dealers in North America. Floorplanning is the provision of inventory loans of 30-to-60-day duration for approved auto dealers. AFC financed 795,000 vehicles in 2000.