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Dahm Steps Down as LeasePlan USA CEO, Pitcher Appointed

August 28, 2008

ATLANTA -- LeasePlan USA, a provider of vehicle leasing and fleet management solutions, said CEO David G. Dahm has stepped down after eight years in the role, but will remain on as the chief operating officer.

"Dave has led LeasePlan USA through a period of significant change and impressive growth, and we are pleased that he will continue to serve as a member of the executive management team," said Kevin McNally, senior regional vice president of Northern Europe and Americas for LeasePlan Corporation.

Michael A. Pitcher, has been appointed to the position of president and CEO of LeasePlan USA, effective Sept. 1, 2008. Pitcher joined LeasePlan in 2003 as senior vice president, corporate fleet, and since 2005 has served the company as executive vice president, corporate fleet division, responsible for sales, marketing, operations and client services.

"With more than 25 years of experience in leasing and finance, Mike Pitcher is the right person to lead LeasePlan into the future," said Dahm.

Prior to joining LeasePlan, Pitcher was with Dell Financial Services (DFS) and Pitney Bowes. At DFS, Pitcher served as vice president of U.S. Commercial Sales, where he was responsible for more than one billion dollars of annual lease originations. Prior to DFS, he spent 18 years with Pitney Bowes, holding various management positions, including two years as president and managing director of Pitney Bowes Australia.

"LeasePlan USA has experienced significant growth and success over the past several years, but I feel it is time for someone else to take this great company to the next level," said Dahm. "I have tremendous confidence that Mike Pitcher is the person to do just that."

LeasePlan USA is a subsidiary of LeasePlan Corp. N.V. The company, which manages more than 1.3 million vehicles worldwide, offers clients customized plans for total fleet cost reduction through its technologically advanced products and dedication to customer service.

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