David Bourne, one of the original founding members and current managing director of Fleet Hire will retire at the end of the year.

He will take a position as non-executive director.

Graham Hale will succeed Mr Bourne.

He has held a number of senior management sales and operational positions within Capital Bank, Godfrey Davis Contract Hire and Bank of Scotland Vehicle Finance and was actively involved in a lead project role integrating the HBOS and Lex Vehicle Leasing businesses following the 100% purchase of Lex by HBOS in 2006.