Michael Psotka named new CFO & Director of Member Services
April 4, 2022
CADA has appointed Michael Psotka as its new Chief Financial Officer and Director of Member Services, effective April 18. He will take over the role from Marvin Karges, who has been in the role for the last eight years.
In an interview with CADA Newsline, Psotka described his new role as the financial “eyes and ears” of the association, in that he is responsible for maintaining its financial viability and providing financial information to stakeholders in a clear and transparent manner.
“On the member services side, I believe it will be imperative to listen to what the members want, and understand what type of services they are looking for,” said Psotka. “We’re always looking for new ideas from our members, in terms of what they want and need at the CADA level that we can potentially deliver to save them money and make them work more efficiently.”
Psotka was most recently the CFO of high-tech startup FreePoint Technologies, based in London, ON. Prior to that he worked as a consultant, helping organizations in need of raising capital and/or financial restructuring.
In the automotive sector, Psotka worked at the senior financial level at the retail, wholesale, and manufacturer level with companies such as Hyundai Auto Canada, the Dilawri Group, and the PIC Group. In his early days in the Financial Advisory Services department at PriceWaterhouseCoopers, “I did a lot of work around the restructuring of automotive dealerships, in and around the GTA. These assignments provided me with the opportunity to better understand how a dealership is run and apply benchmarking and best practice principles.”
Further automotive industry knowledge was gained during his seven years at Hyundai Auto Canada and later at the Dilawri Group.
“I have a lot of arrows in my quiver with respect to best practices, and I look forward to applying them at CADA so the association and its members get the benefit of that knowledge,” said Psotka.