Lex Autolease has confirmed to Fleet News that managing director Rick Francis is due to leave at the end of June.
Francis has been with the business for more than 10 years, much of it with Lex, and worked closely on the merger of the Lex and Lloyds Autolease operations in 2009.
He was appointed managing director just over two years ago after the retirement of Nigel Stead.
According to a statement from Lex Autolease, Francis is taking up a role outside of the fleet industry.
“The process for appointing a successor to Francis is already at an advanced stage and an announcement regarding this appointment is expected in the coming weeks,” it said.
Jakob Pfaudler, managing director asset finance, Lloyds Banking Group, added: “Rick has shown outstanding leadership and commitment during more than 10 years with the business, including the merger of the two businesses which created Lex Autolease and establishing it as the UK’s leading car leasing provider. We wish him the very best for the future.”
Prior to his appointment as managing director, Francis was operations director at Lex Autolease, working alongside Stead during the most intense parts of the integration process.
Before that, he had a number of senior roles including managing director of Bank of Scotland Vehicle Finance and interim managing director and finance director for Lex Vehicle Leasing.