Tempe-based DriveTime now has a vacant CEO post after an executive succession process has been completed by the company.
Per a definitive agreement made in November, CEO Raymond Fidel has transitioned out of his position and a search has begun for a new CEO for DriveTime's retail operations.
"We've built a great foundation for the next chapter in the DriveTime story," DriveTime Chairman Ernie Garcia said in a press release. "While we're looking for a Retail CEO. I'm very confident our current leadership team will get us to the next level."
DriveTime, which is the second-largest vehicle retailer in the U.S. focused on used vehicles, operates over 140 dealerships nationwide. The company reports its annual sales exceed 150,000 used vehicles and over 1.2 million monthly visitors to drivetime.com, which is the company's website.
DriveTime provides used vehicles and used vehicle financing and advertises competitively priced, lower mileage used cars. The company offers online inventory and boasts speed of financing with a credit score and starting down payment in less than two minutes.
The company also promotes its no haggle pricing and a five-day, no questions asked used vehicle return program.