Commercial and fleet payments technology firm FleetCor is going through a bit of an executive switch-up. Reports published this week revealed that the company has named new executives to head its Comdata North America Trucking unit, which offers fleet cards to trucking firms, and its Comdata Corporate Payments unit, the arm of the business that provides virtual, purchasing and payroll cards to business clients.
Greg Secord has been chosen to serve as president of Comdata North America Trucking (NAT), while Kurt Adams has been chosen as president of Comdata Corporate Payments (CCP).
According to reports, Secord is joining FleetCor from ADP, where he led the firm’s Canadian operations. Adams will lead CCP following his position as president of U.S. Bancorp Corporate Payment Solutions. FleetCor says its CCP unit holds a strong presence in the trucking, health care and construction markets.
In a statement, FleetCor Chairman and CEO Ron Clarke said he is “delighted” to welcome the two new leaders to the team. “Each brings successful general management experience to their new roles,” he said. “We expect these executive additions will help accelerate the implementation of our Comdata growth plans.”
[bctt tweet=”FleetCor Chairman and CEO Ron Clarke said he is “delighted” to welcome two new leaders to the team.”]
Earlier this year FleetCor excited investors with news that it would be teaming up with Uber. The collaboration allows Uber drivers to take advantage of discounts at the gas pump when using FleetCor payment solutions, as well as lets Uber access driver and fuel usage data provided by FleetCor weekly reports.
The tie-up raised expectations among analysts, which noted that the payments firm had surpassed Q2 2015 earnings expectations. FleetCor is now expected to see a 21 percent earnings increase, with a 17 percent gain overall for next year, according to reports.
The fleet card industry as a whole is set to see a $35 billion valuation in just four years, analysts forecast.
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