New board of directors for ELFA

At its 54th annual convention, the Equipment Leasing and Finance Association (ELFA) announced its new board of directors and officers who will serve during the next 12 months.

William Stephenson, CEO and chairman of the executive board of DLL, is the new chairman of the ELFA board and Anthony Cracchiolo, president and CEO of US Bank Equipment Finance, is now chairman-elect.

“We are very fortunate to have Bill Stephenson as chairman of the board of directors for 2016,” said ELFA president and CEO William G. Sutton. “Bill’s proven leadership skills, his industry knowledge and his dedication to our association’s mission will have a positive impact on both the ELFA membership and the equipment finance industry at large in the coming year.”

Stephenson succeeds current ELFA chairman Robert Rinaldi, chief executive officer of Commercial Industrial Finance.On taking up his appointment, Stephenson said: “In this time and era where sustainable financial solutions are at the heart of a global transformation that challenges traditional business models, ELFA continues to be a key driver of economic growth in the equipment leasing and finance industry.””The association provides a wealth of resources to members including research, growth opportunities and networking. I am humbled to receive this honor and I look forward to serving as chairman of the Board of ELFA in order to continue to drive the support this great organization provides to its members,” he said.

Stephenson is a recognized industry expert with more than 25 years of vendor finance experience. Since 1987, he has served in a number of key senior positions within DLL, most recently as chief commercial officer and a member of the executive board, responsible for the overall activities of the global vendor finance business, which includes offices in over 35 countries.

The newly elected members of the ELFA board of directors include:

• William Besgen, vice chairman, board of directors, Hitachi Capital America
• Michael Campbell, CEO, International Decision Systems
• Aylin Cankardes, president, Rockwell Financial Group
• Lori Frasier, senior vice president of strategy and performance management, Key Equipment Finance
• David Gilmore, senior vice president, region 4, worldwide financial services division, John Deere Financial
• Brian Holland, president and CFO, Fleet Advantage
• Gary LoMonaco, vice president and treasurer, Forsythe/McArthur Associates

Ralph Petta will serve as the resident and CEO, effective January 1, 2016, following the retirement of William Sutton at the end of 2015.

Equipment Finance Hall of Fame

At its annual convention, ELFA also named seven industry leaders to the 2015 class of the Equipment Finance Hall of Fame, which honors those who have made a particular contribution to the sector.

They are:

• Ian J. Berg (1941–2009) – Founder of Copelco Financial Services Group and innovator of healthcare, copier and high-tech leasing
• Joseph C. Lane – Technology financing pioneer and devoted champion of equipment finance
• P.A. (Paul) Larkins – Industry trailblazer, mentor and dedicated volunteer
• James D. McGrane (1954–2014) – Inspirational leader, relationship builder and multitalented entrepreneur
• Bernard J. McKenna (1933–2010) – Tireless industry supporter and active philanthropist
• William J. Montgomery – Captive and vendor finance visionary and founder of numerous leasing entities, including Xerox Credit Corporation
• Henry B. Schoenfeld (1916–1976) – Founder and first president of US Leasing, the first equipment leasing company

“We are thrilled to recognize the distinguished group of individuals who make up the 2015 class of the Equipment Finance Hall of Fame,” said ELFA president and CEO William Sutton. “These industry pioneers have contributed so much to our industry and our association. Their accomplishments—from blazing new trails in equipment finance, to mentoring the next generation, to serving our association—leave a lasting legacy that will inspire generations to come.”

The Equipment Finance Hall of Fame was established in 2014 to annually recognize individuals who have made unique, significant or lasting contributions to the equipment finance industry throughout their careers.

To be considered for induction, a candidate must have made a significant impact on the equipment finance industry. Nominees are accepted annually. The deadline to nominate an individual for the 2016 Class of the Equipment Finance Hall of Fame is April 1, 2016. The program criteria, requirements, nomination form and deadlines are posted atwww.elfaonline.org/hof/, which also has information about each inductee.