Chait Succeeds Armstrong as President of World Omni

Dan Chait was named president of World Omni Financial Corp., on the heels of Frank Armstrong’s retirement.

As president, Chait is responsible for the strategic and operational management of World Omni (www.worldomni.com) and its divisions, including Southeast Toyota Finance, CenterOne Financial Services, DataScan Technologies, and DataScan Field Services. Chait will continue to serve as a member of the executive management team of Deerfield Beach, Fla.-based parent company JM Family Enterprises Inc.

Chait joined World Omni in 2002, and most recently served as the company’s senior vice president, working closely with Armstrong. Previously, Chait held senior-level positions at US Airways, AutoNation, and UniCaptial Corp.

Armstrong, meanwhile, held World Omni’s president post since 2008. Under his leadership, the company achieved its best financial results. A desire to be closer to his longtime home in central Florida and continue to recover from recent back surgery were important factors in Armstrong’s decision to retire, the company said.

“Frank has been an integral part of our success since joining the company in 2001,” said Colin Brown, JM Family’s president and chief executive. “We understand and support his decision to retire and are grateful for his service.”

Armstrong will serve as an advisor to Chait through yearend.

World Omni had $2.6 billion of loans and leases outstanding at yearend 2011, ranking it 31st in the nation among auto financiers, according to the 2012 Auto Finance Big Wheels ranking.