Asset Acceptance Eliminates Executive Position: VP of Strategy and Analysis

Accounts receivable management firm Asset Acceptance said this week that it is eliminating a position in its executive suite to cut costs.

In a Securities and Exchange Commission filing dated March 31, Warren, Mich.-based debt buyer Asset Acceptance Capital Corp. (Nasdaq: AACC) said that on March 25 it terminated the employment of J. Christopher Lee, Vice President – Strategy and Analysis, effective April 8, 2009.

Further, the company said that it was eliminating the position of VP of Strategy and Analysis “in an effort to streamline the company’s management structure and to further reduce its cost structure.”

Lee was listed as one of the nine Executive Officers at Asset Acceptance in the company’s latest annual report, issued in late February.

Lee came to Asset Acceptance in January 2006 as the VP of Strategy and Analysis. He had previously worked at Capital One in the credit card issuer’s purchased debt division.

Asset Acceptance said that Lee will be pursuing other interests outside the company.