THE new managing director of Cowie Interleasing is Len Clayton, who takes charge of Britain's third largest leasing company on October 1. He will work alongside managing director Michael Gwilt for three months, until Gwilt becomes managing director of the entire Cowie group.

Clayton's appointment completes the management reshuffle following the dismissal earlier this year of Neil Pykett as managing director of Cowie Financial Holdings, which includes Cowie Interleasing. Gwilt was promoted from heading Interleasing's northern operation to replace Pykett, and two months ago it was announced that from January 1 next year he would gradually assume the responsibilities of Cowie group chief executive Gordon Hodgson .Clayton was formerly managing director of Hertz Leasing, which he left two months ago, and prior to that managing director of Swan National.

'In the time I was resting I realised that retirement was never an option, and that I would miss the fleet world,' he said. 'Cowie Interleasing has been a highly-respected opponent during my 20 years in the fleet industry. Cowie is an acknowledged market leader in vehicle management and its strategy to position itself as a total transport solutions supplier is an exciting one.'