Consumer finance firm names new CEO

CLEARWATER — Douglas Marohn has been appointed president and CEO of Nicholas Financial Inc., a Clearwater-based, publicly traded consumer finance company specializing in subprime auto lending.

Marohn previously worked at Nicholas Financial for 14 years. Most recently, he served as president and CEO of ML Credit Group LLC, dba Metrolina Credit Co, according to a press release. He also served as senior vice president of TMX Finance during his time away from Nicholas Financial.

“This is a return home for Doug, since he spent over a decade at the company (1998-2011) in various roles but primarily as senior vice president and VP of operations," Robin Hastings, chairwoman of Nicholas Financial's board of directors, says in the release. "As we move forward, the company believes it has the leadership and aligned incentive system to increase value and adapt in the evolving and cyclical indirect subprime auto finance industry.”