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Toyota Financial Services Announces CEO Transition
Scott Cooke to retire after 23 years, Alec Hagey named as successor
Apr. 6, 2026 at 9:50pm
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A symbolic transition in leadership at Toyota Financial Services is marked by a refined, minimalist display of the company's core identity.Plano TodayToyota Financial Services, based in Plano, Texas, has announced that Scott Cooke, the company's president and CEO, will retire effective June 30 after more than two decades of service. Alec Hagey, the company's executive advisor, has been named as Cooke's successor and will assume the role of president and CEO effective immediately.
Why it matters
The leadership transition at Toyota Financial Services, a major player in the automotive finance industry, is significant as the company looks to build on its strong foundation and continue delivering for its customers and dealers. Hagey's deep experience across sales, marketing, operations, and financial services positions him well to guide the company into the future.
The details
Cooke has led TFS with a focus on operational excellence, financial strength, and customer value since joining the organization in 2003. As president and CEO, he has overseen all operational and financial activities, helping to expand the company's finance and insurance capabilities, enhance product offerings, and strengthen support for Toyota and Lexus customers and dealers across the U.S. Hagey, who has more than 36 years of experience with Toyota, previously served as SVP and chief operating officer, leading sales and marketing for TFS and Lexus Financial Services.
- Cooke will retire effective June 30, 2026.
- Hagey assumes the role of president and CEO effective immediately.
The players
Scott Cooke
The outgoing president and CEO of Toyota Financial Services, who has led the company for more than 23 years.
Alec Hagey
The incoming president and CEO of Toyota Financial Services, who has more than 36 years of experience with Toyota and previously served as SVP and chief operating officer.
Mark Templin
The COO of Toyota Motor North America, who praised Cooke's leadership and expressed confidence in Hagey's ability to guide the company into the future.
What they’re saying
“Scott Cooke's 23 years at the Plano-based company 'has been instrumental in shaping Toyota Financial Services into the strong, customer-focused organization it is today,'”
— Mark Templin, COO of Toyota Motor North America
“Alec's deep experience and strong relationships across our organization make him the right leader to guide TFS into the future. He understands our customers, our dealers, and our business, and he is well-positioned to build on the strong foundation Scott has established.”
— Mark Templin, COO of Toyota Motor North America
“I'm honored to have been part of Toyota Financial Services and proud of what our team has accomplished together. I have full confidence in Alec and the leadership team to continue delivering for our customers and dealers.”
— Scott Cooke, Outgoing President and CEO, Toyota Financial Services
What’s next
To ensure a smooth transition, Scott Cooke will remain as executive advisor, supporting the Americas Oceania Region of Toyota Financial Services Corporation.
The takeaway
The leadership transition at Toyota Financial Services reflects the company's commitment to maintaining operational excellence, financial strength, and customer-focused innovation as it looks to the future. Alec Hagey's extensive experience and strong relationships within the organization position him well to build on the strong foundation established by his predecessor, Scott Cooke.
