DELRAY BEACH, FL - Michael Sheinson, founder and former CEO of FLD, Inc., passed away Aug. 2.

Sheinson was well-known and respected throughout the remarketing industry as an innovator and visionary. His passion for technology-driven solutions shaped the business model for FLD, which was founded as Fleet Lease Disposal in 1979. As early as 1988, he was one of the first in the remarketing industry to have developed a comprehensive vehicle tracking system.

"Michael was a man who had good ideas that he acted on. He was an innovator, an entrepreneur, a perfectionist and a good friend," said Bob Rauschenberg, executive vice president of sales and marketing for ADESA.

In 2000, Sheinson and FLD, Inc., funded and staffed Veretech, LLC with its then 10-member in-house technology department. Sheinson was the visionary for the basic software utilized by Veretech, LLC, which operates one of the most successful online vehicle trade-in and sales-lead-generation applications. Sheinson was Veretech's chairman of the board prior to its sale to Hearst Corporation in 2007. Veretech's products are offered under the Intelliprice and Black Book Onlinebrands through licenses with major automobile manufacturers.

Sheinson's expertise and knowledge in and around the remarketing industry were respected by those who knew him.

Frank Grochal, former vice president of used vehicle sales for ARI, added, "I will always remember Michael as engaging, deep thinking and extremely knowledgeable in regards to people and the issues and trends affecting the remarketing industry. His forward thinking and innovative advances in technology facilitated the remarketing process for all of us."

Over the last ten years, Sheinson had left a majority of FLD's daily operations to the management team or partners he had assembled over the last 30 years. Ron Sanders, CEO, Ron Breslow, president of acquisitions, and Laurie Conn, COO, have all been with the company since the early 1980s. Santiago Ramirez, chief information officer, has been with the company for more than 12 years and is responsible for FLD's current online remarketing solutions, including WebAccess. President, Andrew Mahoney will continue in his current role managing daily operations.

Sheinson pulled back from daily operations in the late 1990s because of the strong management team he had in place and to fulfill a secondary passion for philanthropy. From industry associations to religion to rheumatoid arthritis research, Sheinson's passion and vision extended far past the remarketing industry and all those around him will be sure to keep his legacy alive.

"After nearly 30 years of growing FLD together, the partners and I will surely miss the input of our founder," said Sanders. "Michael's vision shaped much of what FLD is today but he put each of us in place for a reason, to carry on that vision well beyond his years."