Ex Black Horse and MotoNovo boss Richard Jones to head leasco Zenith

Independent vehicle leasing and fleet management specialist Zenith has named Richard Jones as its new group chief executive.

Subject to FCA approval. Jones who has over 10 years of experience in vehicle leasing and finance, is set to take over during early 2025.

Jones has previously served as managing director at Blackhorse and Lex Autolease within Lloyds Banking Group and most recently as managing director at MotoNovo, part of the Aldermore Group.

Lord Stuart Rose, chair of the Zenith Holding Board, said: “Richard is a seasoned business and people leader, with a career spanning 25 years in financial services and the last decade in automotive and leasing. His experience, combined with his proven ability to drive value for customers, partners, and shareholders, makes him the ideal CEO to lead Zenith through the next phase of its development.”

Jones succeeds Tim Buchan, who retires after a 14-year tenure as CEO. Under his leadership, Zenith expanded its business through five private equity partnerships, two management buyouts, and three major acquisitions.

Buchan also pioneered the UK's first direct-to-consumer contract hire business and led the company’s transition to electric vehicles.

 “It has been an honour to lead Zenith through an era of immense change,” he said. “I’m proud of the progress we’ve made, particularly in the transition to electric vehicles. Having spent time with Richard, I know he’s the right fit for Zenith and the best person to guide the company forward into its next chapter.”