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New Deputy CEO at ALD Automotive, which posts robust growth for 2016

On March 15, Gilles Bellemere (pictured) will replace Pascal Serres as Deputy CEO at ALD Automotive. Mr. Pascal Serres, who leaves the international car leasing and mobility services specialist after a career of 15 years, had been one of ALD Automotive's key figures in recent times. He will assume a role at its parent company, Société Générale.

ALD Automotive also reported on its annual figures for 2016, a year in which the company continued robust growth in fleet size (+14%), and both total (+6.1%) and net income (+21%).

Pascal Serres
Mr. Serres spent most of his business career at Société Générale and its subsidiaries. He joined ALD Automotive in 2002 as Regional Director for the UK, Spain, Portugal, the Czech Republic and Morocco. Two years later, he became Sales & Marketing Director for the company as a whole. Since March 2008, he had been Deputy CEO.

As Deputy CEO, Mr. Serres played an instrumental role in ALD Automotive's international expansion, for example into Latin America, where ALD Automotive has the widest and deepest footprint of any global car leasing and fleet management specialist. 

In 2013 at the Fleet Europe Awards in Prague, Pascal Serres was inducted into the International Fleet Hall of Fame for his contributions to the fleet management and vehicle lease industry, and specifically for guiding ALD Automotive towards a successful integrated global fleet services approach. 

Gilles Bellemere
After Mr. Serres is replaced on March 15, ALD’s General Management will consist of CEO Mike Masterson and two Deputy CEOs, Tim Albertsen and Gilles Bellemère. 

Mr. Bellemere graduated from Paris I – Panthéon Sorbonne University with a master's degree in Foreign Trade. He joined Société Générale in 1987, holding various positions within the retail banking network. In 2001, Mr. Bellemere joined ALD Automotive France as Director of Operations and became its Deputy CEO in 2006. Since 2014, he was Regional Director of Société Générale's French retail banking network.

In a statement, ALD expressed the assurance that Mr. Bellemere’s expertise and experience in terms of relationship with individual and corporate clients along with his profound knowledge of ALD Automotive and its environment would serve him well in his new role.

1.4 million vehicles
The announcement of Mr. Bellemere's new general management position was timed to coincide with the release of ALD Automotive's annual report for 2016, a year in which the company continued robust growth in fleet size (+14%), and both total (+6.1%) and net income (+21%).

In terms of fleet growth, ALD Automotive added 105,000 new vehicles organically, and 64,000 vehicles by the takeover of Parcours Group in France, for a total of 1.4 million vehicles managed worldwide. In terms of vehicles under management, ALD Automotive is the #1 provider in Europe and the #3 globally. The company is present in 41 countries worldwide, occupying Top 3 in 26 of them.

Over the past six years, ALD Automotive has grown strongly in Central and Eastern Europe (+10.7% CAGR since 2011) and South America, Africa & Asia (+17.2%). Private lease is fuelling growth in key markets like the UK and Italy, and is expected to exceed 150,000 B2C leasing contracts by 2019.

ALD Automotive’s total income for 2016 rose to €1.24 billion, net income to €511.7 million, while the cost of risk remained low at 18 bps, in % of net earning assets.

Mobility Leadership
Aiming to be a change leader in intregrated mobility, ALD Automotive also continued its pro-active roll-out of innovative solutions in 2016. These include myALD, a client-focused central access point for all fleet-related info; ALD Sharing, a car-sharing solution; ALD Free, flexible mobilty budgets for employees; and Ricaricar, a rechargeable lease solution. The company also confirmed the importance of its online remarketing platform, which processed more than half of its 240,000 used cars sold throughout 2016.

The company further strengthened its Latin American via new alliances with local players Autocorp in Argentina and Arrend in Central America.

Commenting on the results, CEO Mike Masterson said that “this performance is all the more satisfactory in that it was achieved while maintaining a rapid expansion of our profitability. This confirms the efficiency of our organisation and business model. In a fast moving mobility environment, ALD Automotive is successfully positioning itself as a pioneer in innovative mobility solutions and is ideally placed to capture new growth opportunities.”

Over the next few years, ALD Automotive aims to become the global leader in mobility solutions. Specifically, over the next three years, the Group aims for both its total fleet and its services and financial margin to grow at an annual rate of 8-10%, and for its after-tax return on average earning assets to be upward of 3.5%. Dividend distribution should be in the 35%-40% range of the group share of net income.

Picture copyright: ALD Automotive

03/03/2017  |  Steven Schoefs

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