Billante arrives at the Southfield-based company following a stint as CFO at Barracuda Networks. His resume includes senior finance positions at global heavyweights eBay and General Electric, providing a high-level background for his new seat at Credit Acceptance. Jay Martin, who oversaw the company’s financial operations for 23 years, is set to retire next month.
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Joe Billante Steps Into CFO Role at Credit Acceptance
After two decades of financial leadership under Jay Martin, Credit Acceptance is shifting its executive gears. The auto finance firm confirmed Wednesday that Joe Billante will take over as chief financial officer on July 27, marking the end of a long-standing tenure for the outgoing veteran.
The transition comes with a significant compensation package. According to a regulatory filing with the Securities and Exchange Commission, Billante will command an annual base salary of $750,000, bolstered by a $300,000 one-time signing bonus. His incentive structure includes 26,223 restricted stock units, which the company will distribute over a 10-year vesting period.
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