Element hits the reset button

The company plans to transform its fleet business

November 7, 2018
Purchasing B2B

From the October 2018 print edition

Element Fleet Management Corp. has announced plans it says will improve financial performance, strengthen and de-risk the company’s balance sheet and position it for growth.

“We have embarked on a transformational reset of Element’s business, with a renewed focus on our customers and on improving productivity,” said Jay Forbes, Element’s CEO.

The company plans to transform its fleet business, based on a recent assessment of the company’s operations.

Element’s management and board of directors have also examined topics including customer retention; rebate management; people and culture; IT systems; allocation of capital expenditures; and more.

Element has also realigned its executive team, including naming Jim Halliday chief operating officer.