As part of a long-standing succession plan, Fleet Advantage named Brian Holland CEO following the retirement of John Flynn, a 40-year veteran of the trucking and transportation industries.
Holland most recently served as president and CFO. He joined Fleet Advantage in 2011 and was named president and a director of the company in 2014.
Looking Back on John Flynn’s Career
In the 1980’s, Flynn founded his first startup which was to design and implement a nationwide lease program using highly structured tax leveraged lease financing for over-the-road semi-trucks and trailers.
Later he pioneered the use of like-kind exchange (Section 1031 exchange), a tax provision that enhanced the lease economics. Since 1980, tax leveraged leases have expanded exponentially and now represent the largest segment of net finance leasing for new semi-trucks in the U.S., according to Fleet Advantage.
During the early period of his career, Flynn decided to focus on private corporate truck fleets.
He developed mathematical formulas to confirm that shorter lease terms resulted in lower total cost and also structured off-balance sheet operating leases. That philosophy served him well and in 2008, he organized Fleet Advantage and added environmental stewardship to their services.
“No other finance industry executive has had as much of an impact on the acquisition, use and disposal of Class 8 semi tractors for private carriers through helping his customers improve productivity, reduce cost, and operate truck fleets for shorter lease terms without residual risk,” Fleet Advantage officials said.
Flynn added: “We set out to build a company that would offer the flexibility but not the risk of ownership and combined the attributes of hard work and dedication and a commitment to excellence in customer service, using an innovative approach supported by data analytics to effect change within the transportation sector.”