Forbes (far left) will stay a strategic advisor to Dottori-Attanasio and to Factor’s chair of the board for 2 years following Forbes’ retirement.
Picture: Factor Fleet Administration
Factor Fleet Administration Corp. introduced on Jan. 23 that its president and CEO Jay Forbes will retire on Could 10, 2023, coinciding with the corporate’s annual common assembly. Factor’s Board of Administrators has appointed Laura Dottori-Attanasio to succeed Forbes.
To facilitate a seamless transition, Dottori-Attanasio will be part of Factor on Feb. 15, initially as president earlier than assuming the CEO position on Could 10. As well as, Forbes has agreed to function a strategic advisor to the CEO and board chair for a two-year interval post-retirement.
“On behalf of the board, I wish to thank Jay for the outstanding observe report of success he has achieved over the course of his tenure as CEO,” Factor Chair David Denison mentioned. “Earlier than becoming a member of the corporate in June 2018, Jay acknowledged the potential in Factor’s underlying enterprise mannequin and had the non-public conviction and braveness to tackle the problem of realizing that potential at a time of nice uncertainty for the corporate. Jay initially led a complete transformation of all points of the corporate’s operations, put in place a high-performance management staff and tradition, and strengthened its monetary place by reaching an funding grade credit standing. Having solidified the corporate’s basis, Jay then orchestrated a pivot to progress which, regardless of the appreciable headwinds posed by the pandemic and new automobile manufacturing shortages, has led to report working and monetary efficiency for Factor. One of many clearest indications of Jay’s constructive influence on the corporate is the truth that Factor’s market capitalization has elevated nearly fourfold throughout his time as CEO.”
Forbes was named president and CEO in 2018. He got here to Factor from Winnipeg-based Manitoba Telecom Companies, the place he served as president and chief govt from 2015 to 2017. Previous to that position, he served as president and CEO of Teranet, Inc., a Toronto developer of land registration methods. Forbes has additionally held management roles with Ingram Micro and Aliant.
“Figuring out Jay’s intentions, the board launched a proper succession course of throughout 2022, and we’re completely delighted it has culminated in our appointment of Laura Dottori-Attanasio. Dottori-Attanasio has had an in depth and really profitable profession so far throughout the monetary companies sector, together with serving in a lot of senior roles inside Canadian Imperial Financial institution of Commerce over the previous 14 years. Most not too long ago, she served as senior govt vp, and head of private and enterprise banking, overseeing a staff of 12,600 workers within the supply of recommendation, companies, and merchandise that generated $8.2 billion in annual income. Dottori-Attanasio’s confirmed observe report of success in main complicated organizations and operations, coupled together with her familiarity with the Factor group, ideally positions her to imagine the CEO position and additional advance our progress technique going ahead.”
Incoming President and CEO Dottori-Attanasio mentioned: “Having recognized the corporate for a while, I’m impressed by what Jay and the Factor staff have completed, firstly via the transformation and now via the pivot to worthwhile income progress. I’m each honored and excited to affix the staff and construct on the spectacular momentum created to-date.”
