Following his autumn 1994 appointment to head up the UK operation, Farrar has seen the company's British fleet expand from 50,000 units to more than 70,000 due to last year's acquisition of Leasecontracts and last year's 38% organic growth rate. And Farrar predicts GE will continue to grow its UK operation and could have 120,000 vehicles on either contract hire or fleet management by 1998/99.
Farrar returned to the States this week but will visit the UK frequently until a successor is appointed 'within a matter of weeks'. Until then Daniel Mudd, president and chief executive of GE Capital Fleet Services - Europe, will assume responsibility for the UK.
There is constant speculation as to which UK-based leasing/fleet management company GE will acquire next and Farrar, while declining to name companies, said: 'We are continually looking at the marketplace and are in discussions with key players.'