José Coronel De Palma, managing director of Caterpillar Financial, the leasing division of construction and mining equipment giant Caterpillar, has become the latest addition to Leaseurope’s board.
De Palma will replace Jose Martin Castro Acebes, director of financial and operating lease at Spanish baking group Santander.
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The announcement follows a wider re-shuffle in Leaseurope’s board during the last quarter of 2013.
Massimiliano Moi resigned as chairman in October after leaving Unicredit Leasing for another department within the Italian financial services group.
Jukka Salonen, chief executive of Nordea Finance, stepped in as a replacement and will hold the role until October 2014, leading a board which includes Vahid Daemi, chief executive of LeasePlan, and Ronald Slaats, former chief executive of De Lage Landen, as vice chairs.
Salonen said: "We welcome José Coronel De Palma and are delighted that he volunteered to join our Board of Directors.
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By GlobalData"With the many challenges ahead, the Federation needs a strong and representative Board in order to provide leadership and support the important work of Leaseurope. José’s experience will be very useful in that respect."
De Palma’s selection marks the second appointment of a representative of a captive finance company, following that of Jirina Tapsikova, chief executive officer of Czech leasing and finance provider, Skofin.
"The joining of a senior representative of the captive finance company of a major equipment manufacturer is a source of great satisfaction," added Salonen.
"Like most of its 44 member associations, Leaseurope has always represented the interests of equipment captives alongside those of other types of leasing companies."
Salonen said the governance structure of national leasing associations should mirror the diversity of the industry they represent, and added the Leaseurope board now reflected that in its composition.
