After 13 years as president, Forrest Heathcott said Tuesday he will retire in early 2021 from JM&A Group, one of the largest providers of finance and insurance products in the U.S.
He will be succeeded by Dan Chait, 53, president of sibling company Southeast Toyota Finance. The company is the captive lender to Southeast Toyota Distributors, the independent distributor of the automaker's vehicles to 177 dealers in five states.
Heathcott, 63, joined JM Family Enterprises in 1993, holding positions at JM&A Group as well as Southeast Toyota Distributors and its finance arm.
He said he began discussing succession plans with JM Family executives more than a year ago.