A MANAGEMENT shake-up has been announced at growing leasing firm Powermarque after its founding managing director James Daly announced he is moving to head up rival firm Hertz Lease. Daly is expected to officially take up his position in about three weeks, but is believed to have already left Powermarque, which has appointed operations director Matthew Dunne as its new managing director.

Dunne inherits a business which has risen from relative obscurity to running a fleet of 22,000 vehicles, which would put it at about 17th in the Fleet News FN50 league table of Britain's largest contract hire firms. Dunne said: 'I am of course thankful to James for leaving me with such a successful legacy and am delighted to take up the challenge.

'I fully intend to carry on taking the business forward in the dynamic fashion Powermarque has adopted over the past few years.' Daly was unavailable for comment.