Leasedrive appoints new financial director

The Leasedrive Group has announced the appointment of David Foulds to its board as financial director.

Managing director, David Bird, said: “David has worked for us in an interim capacity and has gelled well with the management team so we are all delighted that he has accepted our offer to join our executive board on a permanent basis as our new financial director.

“David is a strategic and commercial finance director with considerable experience of the services’ sector with major companies. His experience includes business acquisition and disposal, managing relationships with financial investors and corporate governance.

“This experience will prove invaluable as we pursue our aggressive growth objectives over the coming years through a combination of organic growth and acquisition.”

As finance director at TransLinc between 2007 and 2011, Foulds was one of the key members of the management team responsible for realising a 2.7 times return on investment for the private equity partner on the sale of the business after a four-year period of ownership. Subsequently, he was appointed commercial director of the newly-created fleet and passenger services division of May Gurney, following the merger of TransLinc with the existing May Gurney fleet business.

Foulds’ automotive experience includes roles as finance and operations director at Hyundai Car (UK) and five years as finance director with Lex Vehicle Leasing between 1994 and 1999. During this period, the fleet size grew by 50 per cent and he played a major role in the purchase by Lex Service of NatWest’s 50 per cent stake in the business and subsequent profitable sale to HBOS.