Merchants Fleet Announces Retirement of CEO Brendan P. Keegan

Merchants Fleet has announced the retirement of Brendan P. Keegan, chairman, CEO, and president, effective May 17, 2024. After 15 years with the company, “Keegan has decided to retire to pursue his many passions,” according to a statement from the company. 

Keegan will remain the company’s third-largest shareholder.

Brad Burgess, senior vice president of sales and marketing, and Kirk Hoffman, CFO, will serve as interim co-CEOs. Together, they bring more than 40 years of experience in the fleet management industry.

“Brendan has been a visionary leader, driving significant growth and has positioned Merchants Fleet at the forefront of the fleet management industry," said Olof Bergqvist of Bain Capital and a Merchants’ board member. "His passion, energy, and commitment to excellence have left an indelible mark on the company. We thank him for his fearless leadership and wish him the best in his retirement.”

Keegan’s History at Merchants

Keegan's journey with Merchants Fleet began in 2009, initially as the company's largest client before joining the board of directors and later serving as the chair of the compensation committee.

In 2017, Keegan stepped in as a strategic advisor and interim CEO, and in 2018, he fully committed to the role of CEO, becoming the third individual ever to hold the position within the company.

Keegan was instrumental in leading a growth equity raise in 2020, securing a partnership with Bain Capital. This was followed by a successful strategic sale in 2022 to Bain Capital, and a subsidiary of Abu Dhabi Investment Authority, along with the management team, marking a significant milestone in the company's history.

"It has been an honor to lead Merchants Fleet and witness its evolution into an industry leader,” said Keegan in the statement.

“I am proud of the culture of innovation we have fostered, which has been a huge influence on our growth. As I remain the company’s third largest shareholder, I am confident in the strong foundation we have built and am extremely optimistic for the future of Merchants Fleet."

In February, Keegan was announced as co-owner and board member of Andretti Altawkilat Extreme E team. Under the Andretti Global family of racing teams, Andretti Altawkilat Extreme E is the all-electric, off-road racing team competing globally in the Extreme E championship.