More NewsCIT’s CFO Joseph Leone to Retire

CIT's CFO Joseph Leone to Retire

CIT Group, a provider of financing to small businesses and middle market companies, announced that Joseph Leone, vice chairman and chief financial officer (CFO), has decided to retire after over 25 years of service. To assist in the transition, Leone has deferred his retirement date until 30 April 2010.

Early this month CIT announced its emergence from bankruptcy, which allowed the company to reduce its total debt by approximately US$10.5bn and liquidity demands over the next three years while enhancing its capital ratios to levels that exceed regulatory standards.

The company has also appointed four new directors to the board: Michael Embler, Arthur Newman, Daniel Ninivaggi and Brad Oates. The search for three additional independent directors and a new chief executive officer (CEO) is progressing in due course.

Related Articles

Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

2m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

3m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

3m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

3m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

4m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

4m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

4m Tasja Botha
FX for corporates: 5 best practices for treasurers

Economy FX for corporates: 5 best practices for treasurers

4m Mateo Graziosi