RICHMOND, Va. -

CarMax this week announced its leadership transition plan for CarMax Auto Finance, since Angie Chattin — a member of this year’s Women in Remarketing class — is retiring.

Promoted to senior vice president and president of CAF is Jon Daniels, who joined the company’s captive finance company in 2008 as vice president, risk and analytics.

The company highlighted Daniels has extensive credit and banking experience from HSBC and Metris, where he worked prior to joining CarMax.

“CAF’s business has expanded over the last six years, and Jon has assumed additional responsibilities as part of our ongoing succession planning. I want to congratulate him on this well-deserved promotion,” said Tom Reedy, executive vice president and chief financial officer of CarMax.

The company added Chattin will work with CarMax in a consulting capacity to ensure a seamless transition. Chattin — honored during Used Car Week along with the other executives chosen as a part of this year’s group of Women in Remarketing — assumed leadership of CAF in 1997 and is retiring after 23 years of service, including holding various positions at Circuit City.

“I want to thank Angie for her many years of service,” Reedy said. “CAF has achieved many milestones during her tenure, and has become the seventh largest lender within the used auto finance industry, with a portfolio of more than $8 billion.”