GE Capital Motor Finance has appointed a new managing director after the sudden departure of Ron Elder. George Awad will replace Elder, who is leaving the company to pursue career opportunities outside GE.

Elder was well known within the fleet industry, serving as managing director of Avis Fleet Services between 1989 and 1994, prior to which he was vice president and group financial controller of Avis Europe. Awad has been with GE for ten years, the last five spent in Asia leading business development opportunities for GE and GE Capital.