Alphabet revamps to go it alone
05 April 2011
Alphabet, the BMW-owned fleet-funding company, has promoted managing director Mark Sinclair to an international role, with former boss Richard Schooling returning as chief executive to lead a newly independent Alphabet in the UK.
The leasing firm, which claimed to have enjoyed "unprecedented growth" in 2010, is to separate itself from BMW Group Financial Services in the UK, with which it has previously shared back-office departments such as finance teams and operational staff, and will now work independently, although still owned by the car manufacturer.
"With the new structure, Alphabet will have full responsibility and control of its own back office departments, dedicated solely to Alphabet to further enhance service quality and support future growth," said Schooling.
BusinessCar blogger Sinclair, who has led Alphabet in the UK since 2007, will be responsible for coordinating Alphabet's international business development plans. This will involve restructuring the business and its product range as well as providing mobility management across the 13 countries where Alphabet operates.
Schooling will imminently be announcing a new management team for Alphabet.
The company manages a fleet of 46,000 vehicles in the UK and supplies 300,000 vehicles worldwide.
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