Fourth Fleet Financial Expands Executive Team and Secures Financing
Fourth Fleet Financial has added three executives to its management team and received an infusion of cash from El Dorado Ventures. "Our goal is to enable more partners to sell ever-increasing volumes of off-lease autos while reducing costly remarketing expenses." said Jeff Danford, founder and CEO of Fourth Fleet Financial. "With this newly expanded team of industry veterans we will implement more aggressive marketing programs and rapidly scale operations to meet increased industry demand." Doug Galen is a noted consumer-marketer and consumer-finance expert who has joined Fourth Fleet as its president. Previously, Galen worked for eBay as its vice president of new ventures. In this role, he identified and launched new business categories, similar to eBay Motors, for the Internet auction company. Under Galen's guidance, eBay launched eight new business categories during his tenure at the company, generating more than $500 million in annual sales. Prior to eBay, Galen was senior vice president of sales and business development for E-LOAN, Inc., an online home and auto lender. At E-LOAN, he was responsible for creating more than 70 corporate alliances, joint ventures, and acquisitions – including overseeing the company's diversification beyond mortgages and into auto loans through the acquisition of Bank of America's auto finance division. Galen received his under-graduate and MBA degrees from University of California, Berkeley. John Orta joins Fourth Fleet as vice president of product development. Previously, Orta served as the direc-tor of business development and associate counsel for E-LOAN, Inc. At E-LOAN, he implemented the com-pany's multi-lender auto financing network. Prior to E-LOAN, Orta was the director of business development at iMotors. In the past, he has also specialized in intellectual property litigation. Orta earned an M.B.A. from the University of California at Berkeley Haas School of Business, a J.D. from the University of San Francisco, and a B.A. in business economics from the University of California at Santa Barbara. Edan Kabatchnik has joined Fourth Fleet as vice president of technology. Kabatchnik has experience build-ing scalable, high-touch customer support solutions for Oracle and a number of other Silicon Valley compa-nies. He left his position as lead software developer for Oracle to found his own software infrastructure com-pany called Eventus Software. Kabatchnik then joined RelayHealth Corporation as its senior vice president of product development and later as chief operating officer. While at RelayHealth, he led the effort that built a customer service solution for the healthcare industry designed around an easy-to-access partner module. Ka-batchnik graduated from the Massachusetts Institute of Technology in 1990 with a Master's degree in com-puter science with engineering.