Toyota Financial Services named Alec Hagey president and CEO on April 6, 2026, following the announcement that Scott Cooke will retire on June 30 after more than two decades with the company. Toyota USA
Hagey’s appointment matters for one specific reason: he’s the guy who ran digital.
As SVP and chief operating officer, Hagey oversaw the digital SmartPath initiative alongside fleet management and the KINTO carsharing operation, in addition to the usual finance and insurance machinery. So when TFS says it’s doubling down on customer experience and digital finance, Hagey is probably the right person to make that credible. He’s already been inside it. Toyota USA
His tenure spans 36 years with Toyota, covering sales, marketing, operations, and financial services. That breadth matters at a company like TFS, where the CEO has to speak fluent dealer as well as fluent balance sheet. PR Newswire
Cooke’s record was solid. He spent his 23 years at TFS across risk, finance, treasury, and operations and, as CEO, expanded the company’s finance and insurance offerings while strengthening dealer support for Toyota and Lexus customers across the U.S. Toyota USA
As of March 31, 2026, TFS had roughly 3,800 employees and assets totaling over $150 billion. That’s a big ship. Hagey’s job is keeping it moving while wiring it for whatever comes next in auto lending and digital retail. Toyota USA
Mark Templin, COO of Toyota Motor North America, framed the handoff plainly. “He understands our customers, our dealers, and our business, and he is well-positioned to build on the strong foundation Scott has established. ” PR Newswire
Cooke will stay on as executive advisor, supporting the Americas and Oceania regions of Toyota Financial Services Corporation during the transition. Coverage
The appointment itself is quiet by auto industry standards. No bold strategic reset, no announced restructuring. What’s telling is who they picked and what that person spent the last several years doing. Digital retail, mobility, and customer-facing products. That’s the signal.