Don Gottwald has been named Automotive Finance Corporation’s, a subsidiary of KAR Holdings Inc., new president and CEO, effective immediately, the company announced Dec. 10. Gottwald will report directly to KAR Holdings, Inc.’s Chairman and CEO Brian Clingen.

Gottwald most recently served as executive vice president of dealer business for HSBC Auto Finance. In this role, he was instrumental in the strategic leadership of the company’s originations, marketing, sales, product management, pricing and analytics, responsible for servicing 8,000 commercial customers.

Prior to working at HSBC Auto Finance, he spent 12 years in roles of increased responsibility with GMAC Financial Services. During this time, he managed several of the company’s subsidiaries, including the Saab Financial Services Corp. and American Suzuki Financial Services. Gottwald began his career as a business manager at a Cleveland-area dealership in the finance and insurance department.

Gottwald holds a bachelor’s degree in management from Northwood University in Midland, Mich., and an MBA from Duke University’s Fuqua School of Business in Durham, N.C. He is also a member of the American Financial Services Association, where he was the chair of the vehicle finance division and served on the association’s board of directors.