Independent fleet funding and management company Zenith Provecta has promoted Tim Buchan to chief executive officer as part of a management reshuffle.
The company has made a total of four new appointments to strengthen its senior management team, following the sale of a 60% stake to Morgan Stanley Private Equity (MSPE) in August.
Andrew Cope, who helped to set up the company 21 years ago, has moved up to executive chairman, and Ian Hughes, formerly of Citroen, has been appointed to the role of commercial director.
Ben Creswick, previously Zenith Provecta head of business development, has joined the board as business development director. Creswick started at Zenith as a sales and account executive and has also been business development manager for the north.
Cope said: “The Morgan Stanley deal is now complete and the new management structure will enable the company to continue to grow while maintaining our focus on providing excellent customer service as a leading fleet funding and consultancy company.”
Cope was promoted to managing director in 1998 and has guided four management buy-outs, as well as leading the acquisition of Provecta Car Plan in May 2008. Buchan, who was a sales and marketing director for five years, earlier held customer management roles at LeasePlan, and was a consultant to the motor industry.
