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February 2, 2015updated 12 Apr 2017 3:54pm

ELFA president to retire at end of 2015

William G Sutton, the president and chief executive officer of the Equipment Leasing and Finance Association (ELFA), has announced that he will retire at the end of the year.

By Sotiris Kanaris

William G Sutton, the president and chief executive officer of the Equipment Leasing and Finance Association (ELFA), has announced that he will retire at the end of the year.

Sutton has led the US trade association since 2010. He has also served as the president of the association’s research affiliate, the Equipment Leasing and Finance Foundation during this time.

Before joining ELFA, Sutton served as assistant secretary of the Manufacturing and Services unit of the US Department of Commerce’s International Trade Administration.

Adam Warner, chairman of the transition committee and president of key equipment finance, said: "His expert guidance of ELFA following the financial crisis helped the association emerge from the recession stronger than ever, and the association has grown in every area under his watch. Woody will be sorely missed when he retires, but he has laid a solid foundation for our organization’s future success."

Ralph Petta was voted unanimously by ELFA’s executive committee and board of directors as Sutton’s successor, with his duties commencing in January 2016.

Petta has been with ELFA since 1987. He was named chief operating officer in 2010 and previously served as vice president of research & industry services.

"We are very fortunate to have Ralph Petta on board as the successor to Woody. Ralph’s industry knowledge and commitment to the continued success of our association will be invaluable assets moving forward," said Warner.

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