FLD has announced three executive promotions, including the appointment of a new CEO and president, as part of a series of leadership changes that took effect Oct. 1.

The vehicle remarketing company named Ron Sanders managing partner, Gary Mott chief executive officer, and Richard Mallek president. Mallek succeeds Mott as president and also becomes a partner in the company.

Mallek joins existing partners Mott, Sanders, and Chief Technology Officer Santiago Ramirez.

The three executives have a combined 86 years of experience with FLD.

Sanders Moves Into Managing Partner Role

Sanders joined FLD shortly after the company was founded in 1979 and has been part of its leadership team for decades. He helped develop the company's direct-purchase model and will continue to serve in an advisory capacity.

“Personally, I've always said every 50 years is a good timeframe to change things up and we're only a few years around the corner, right,” Sanders said. “Until then, I'm truly looking forward to working with my fellow partners over the coming years to take FLD in new and exciting directions that make our customers' lives easier while helping them eliminate risk.”

Mott Named CEO

Mott has spent approximately three decades with FLD, holding several positions during his tenure with the company.

He has also received the International Automotive Remarketers Alliance's Samuel J. Lee Memorial Lifetime Achievement Award, which recognizes contributions to the vehicle remarketing industry.

“I’m incredibly humbled for this opportunity and looking forward to continuing our legacy of eliminating risk and simplifying the remarketing process for our customers,” Mott said.

Mallek Becomes President and Partner

Mallek has held a senior sales role with FLD for the past decade and has also been involved in the company's marketing efforts.

As part of the leadership transition, he becomes president and joins the company's ownership group.

“I will always be grateful to our current senior leaders for giving me the opportunity,” Mallek said. “As someone who loved cars but knew nothing about remarketing, it’s been the dream of my professional life to grow with this company, and I’m excited to help write the next chapter in FLD’s history.”

FLD was founded in 1979 and provides vehicle remarketing and direct-purchase services for commercial fleet vehicles.