Marc Keepman, CLFP, founder, CEO and chairman of KLC Financial will retire. The company promoted Spencer Thomas, CLFP, to assume the role of CEO.

Keepman stepped away from the CEO role on March 1 and Thomas, who previously served as the company’s president, assumed the CEO role on the same day. While Keepman stepped down from the CEO role, he will continue to serve as the chairman of the board for KLC Financial.

“I am pleased to announce the promotion of Spencer Thomas to CEO of KLC Financial, Inc.,” Keepman said. “Spencer has been my partner over the past 20 years and our sales and business development leader. Spencer has been president for the past five years and is more than prepared to take us into the next rounds of growth and expansion as our CEO.”

Thomas has decades of experience in the equipment leasing and finance industry and has held various roles, from business development to executive management. Prior to his past 20 years at KLC Financial, Thomas held positions at LeasePoint and IMI. Currently, he is a member of multiple industry associations, including the National Equipment Finance Association and the Certified Lease & Finance Professional Foundation.

“I am very excited to embark on the opportunity to be the CEO of KLC Financial, Inc.,” Thomas said. “KLC is well positioned for success with an accomplished leadership team, valued customers, advanced platform and formative partners. I plan to move forward with continuing KLC’s mission of delivering equipment finance solutions to our clients with integrity, depth of knowledge and speed. The future is very bright for KLC Financial and our stakeholders.”