ALD has completed its 100% acquisition of LeasePlan, one of the world’s biggest fleet management and mobility companies, from a consortium led by TDR Capital, for a total consideration of €4.8bn, paid through a combination of cash and ALD shares.
This acquisition positions the combined group as the leading global sustainable mobility player with a total fleet of 3.3m vehicles managed worldwide, ALD said in a statement.
Following the closing of the acquisition of LeasePlan, which holds a banking license allowing it to raise deposits under the Dutch deposit guarantee scheme, ALD becomes a Financial Holding Company, a regulated institution supervised by the European Central Bank.
Under its commitment, Societe Generale will remain the long-term majority shareholder of ALD, with 52.6% of the capital and a 40-month lock-up period. The former LeasePlan shareholders hold 30.75% of the combined entity’s capital and are subject to a 12-month lock-up commitment, while the free float represents 16.6%.
Starting on 22 May 2023, the results of LeasePlan will be consolidated into the financial statements of ALD.
“Today is a historical day for ALD and LeasePlan and marks the beginning of a new era in mobility. By bringing together our complementary capabilities and expertise, we are well-positioned to capture the sector’s tremendous growth opportunities. Our focus going forward will be to leverage our unique position to lead the energy transition through innovative solutions, including digital platforms, to encourage large-scale adoption of sustainable mobility, whether it be through low-emission vehicles or multi-mobility solutions,” said Tim Albertsen, CEO of ALD. “With a combination of talent at ALD and LeasePlan, our teams are fully committed to creating the leading global sustainable mobility player and delivering value for all of our stakeholders. We are all very excited about starting this new venture together.”
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Changes to the ALD board of directors
As a result of its newly acquired regulated status and changes to its shareholding structure, ALD has adjusted its by-laws and reinforced its governance by increasing the number of its Board of Directors from 10 to 12 members.
ALD’s extraordinary shareholder’s meeting on 22 May 2023 validated the following appointments:
- Hacina Py, Chief Sustainability Officer of Societe Generale, was appointed Member of the Board
- Mark Stephens, Partner at TDR Capital, was appointed Member of the Board
The new Board of Directors convened after the Assemblies on 22 May and 24 May, will also adopt new Internal Regulations which will increase the number of specialized committees from 2 to 5.
ALD SA executive governance
To lead the strategic development of the combined entity, Tim Albertsen, CEO of ALD SA, has created a new leadership team comprised of a General Management team and a newly formed Executive Committee.
The General Management team includes Tim Albertsen, CEO, John Saffrett, the current group deputy CEO of ALD SA and Berno Kleinherenbrink, previously Chief Commercial Officer and Cluster Director of LeasePlan, who has been appointed Group Deputy CEO.
ALD SA’s executive committee will be composed as follows (in addition to the General Management team):
- Michel Alsemgeest is appointed Chief Digital and Information Officer
- Liza Hoesbergen is appointed Chief Legal and Corporate Affairs Officer
- Miel Horsten is appointed Chief Operating Officer, supervising Service & Operations, Procurement and Insurance
- Roderick Jorna is appointed Chief People Officer
- Gilles Momper is appointed Chief Financial Officer
- Annie Pin is appointed Chief Commercial Officer
- Laurent Saucié is appointed Chief Transformation and Integration Officer
- Hans van Beeck is appointed Chief Risk and Compliance Officer
- Gilles Bellemère is appointed Country Managing Director of France & Group Regional Director, supervising Algeria and Morocco
- Guillaume de Léobardy is appointed Chief Remarketing Officer & Group Regional Director, supervising Brazil, Chile, Colombia, Mexico and Peru
- Martin Koessler is appointed Group Regional Director, supervising Austria, Croatia, Germany, Hungary, Serbia, Slovenia and Switzerland
- Jeroen Kruisweg is appointed Group Regional Director, supervising Belgium, Denmark, India, Ireland, Finland, Luxembourg, Malaysia, Norway, Sweden and Thailand
- Philippos Zagorianakos is appointed Group Regional Director, supervising Belarus, Bulgaria, Czech Republic, Estonia, Greece, Latvia, Lithuania, Poland, Romania, Russia, Slovakia, Turkey, Ukraine and United Arab Emirates