A designation which aims to prepare the merger of the car rental company with LeasePlan. ALD should ultimately have a fleet of 3.5 million vehicles.
By Le Figaro with AFP
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The Chief Executive Officer of Societe Generale, Frederic Oudea, who will leave office on May 23 to become president of the pharmaceutical group Sanofi, was appointed director of the car rental company ALD, a subsidiary of the French bank, on Tuesday. Meeting on Tuesday, the board of directors of ALD “has co-opted Frédéric Oudéa as a director with immediate effect”indicates the specialist in long-term vehicle rental, in a press release published on Tuesday evening.
“This appointment aims to strengthen the board of directors of ALD”in preparation for the upcoming integration of its Dutch competitor LeasePlan, number one in European leasing, according to this press release. “Over the years, Frédéric Oudéa has accompanied and supervised the development of ALD within the Societe Generale group, as well as the project to acquire Lease Plan”explains ALD.
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Diony Lebot, Deputy Chief Executive Officer of Societe Generale and Chairman of the Board of Directors of ALD, believes in the press release that this appointment will make it possible to “to start a new chapter in the development of ALD, in which the consolidated entity will be ideally positioned to lead the transformation of the mobility industry”. Following the merger with LeasePlan, ALD should have a fleet of 3.5 million vehicles, in a booming market in the long-term rental segment.
Present in 43 countries, ALD has obtained the green light from the European Commission for this merger, but has undertaken to sell its activities in six countries (Czech Republic, Finland, Ireland, Luxembourg, Norway and Portugal). Frédéric Oudéa, appointed censor of Sanofi on September 2, was proposed on September 5 as the next non-executive chairman of the French pharmaceutical group, replacing Serge Weinberg, whose mandate is coming to an end.
