Groff was Toyota Motor Credit Corp.'s seventh employee in 1983, when he worked as an operations administrator. He transferred to Toyota Motor Insurance Services in 1991 and held positions in product development and management for three years.
Returning to Toyota Motor Credit in 1994, Groff held a series of positions in sales, marketing, strategic planning, information technology and customer service, according to the statement.
He was instrumental in the rebranding of the two into Toyota Financial Services and also helped lead the captive's relocation from Torrance, Calif., to Toyota's new U.S. headquarters in Plano, Texas. The project began in 2014, shortly after Groff took over as head of Toyota Financial Services, in 2013. It was completed last year.
Groff also was responsible for the company's operations in Canada, Mexico, Puerto Rico, Argentina, Brazil and Venezuela, the company said in the statement.
Toyota Financial Services has more than 4 million active customer accounts, over 8 million insurance agreements and total assets of more than $120 billion, according to the company. It employs about 3,300 people nationwide.