Hitachi Capital president to retire

Robert Otto, Hitachi Capital America corporation (HCAC) president and its general manager of automotive finance, will be retiring from the company in 2017.

Otto’s planned departure brings to an end a 44-year career in the automotive industry, which began at GMC and Chevrolet. He went on to create and launch the automotive finance division for HCAC in 2001 and spent 16 years building the business to $700 million in transportation assets and nearly $1billion in annual sales. The division specializes in financing all classes of commercial vehicles, including heavy duty trucks and trailers.

Hitachi Capital America’s president and chief operating officer, Ryan Collison, said: “We thank Bob for all of his efforts in building the business and positioning HCAC for continued growth and success. During his tenure he made important contributions to the company while earning wide respect in the automotive industry, as well as across organizations.”