Armund Schoen has been elected president and CEO of Four Wheels Inc., Chicago-based automotive fleet leasing company. He formerly served as executive VP.

Schoen succeeds Zollie Frank, who moves up to chair of the board. Frank and Schoen were co-founders of the company in 1938. Schoen continues as president of Wheels Inc., and affiliated leasing company.

Named to succeed Schoen as executive vice president is Raymond Berlin, who has been with the company since 1947. For the past three years, Berline has served as vice president.