Fourth Fleet Financial Expands Executive Team and Secures Financing
Fourth Fleet Financial announced on September 7 that it has added three executives to its management team and received an infusion of cash from El Dorado Ventures.Fourth Fleet provides the remarketing industry with its off-lease auto financing solution, which maximizes end-of-lease vehicle value by servicing the entire credit spectrum of driver and employee sales programs.Doug Galen, a noted consumer-marketer and consumer-finance expert, has joined Fourth Fleet as 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 over 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 undergraduate and MBA degrees from University of California, Berkeley.John Orta joins Fourth Fleet as its vice president of product development. Previously, Orta served as the director of business development and associate counsel for E-LOAN, Inc. Prior to E-LOAN, Orta was the director of business development at iMotors. Orta earned an MBA from the University of California at Berkeley Haas School of Business, a JD from the University of San Francisco, and a BA 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 building scalable, high-touch customer support solutions for Oracle and a number of other Silicon Valley companies. He left his position as lead software developer for Oracle to found his own software infrastructure company called Eventus Software. Kabatchnik then joined RelayHealth Corporation as its senior vice president of product development and later as chief operating officer. Kabatchnik graduated from the Massachusetts Institute of Technology with a master's degree in computer science with engineering.