After 39 years in the business, TD Auto Finance CEO Tom Gilman will retire at the end of July, AutoFinanceNews.net has learned.

Paul Clark, the auto unit’s chief operating officer, will assume Gilman’s responsibilities.

Gilman joined Chrysler in 1973, and held numerous positions at the carmaker and its captive for nearly three decades. Gilman also served as senior vice president at Asbury Automotive Group, and as a director at DealerTrack, among other posts.

Clark, meanwhile, has held senior management positions at TD Bank Group, TD Auto’s parent company, since 2001. Before joining TD Auto earlier this year, Clark served as SVP and chief auditor for TD Bank Financial Group. He’s also served as the bank’s SVP of commercial banking and SVP of small business banking.