Germany’s largest lessor Deutsche Leasing has appointed Kai Ostermann as its new CEO from August 1.
He replaces well-known leasing veteran Hans-Michael Heitmueller, who will retire with the expiration of his contract on July 31, after 11 years at the helm of the company.
Ostermann joined Deutsche Leasing’s managing board in 2006 and has served as second-in-command since October 2008, heading a number of business units and key strategic initiatives.
Prior to joining the board, he was MD of Deutsche Leasing’s majority-interest subsidiary, DAL Deutsche Anlagen-Leasing GmbH.
He started his professional career in 1993 at Landesbank Schleswig-Holstein in Kiel, where he was junior manager of corporate, leasing and project finance.
Heinrich Haasis, supervisory board chair of Deutsche Leasing and president of the German Savings Bank Association, said: “A home-grown successor with extensive expertise and experience in leasing business allows us to smoothly continue on our successful growth path of the last few years.”
The supervisory board designated Ostermann as Heitmüller’s successor last year, to ensure visibility and an efficient transition of power.