Atlanta, Georgia- March 28, 2006 –
Today, FleetCor, a leading provider of
commercial fleet card issuing and processing services, appointed Benton Routh
as President of FleetSource, a new company division dedicated to delivering
industry-leading products and services to independent petroleum marketers.
In addition to FleetCor's current Mannetec, CFN, and FleetNet service offerings,
FleetSource will be delivering new fleet card programs which will make it
simpler for a marketer to deliver world-class fuel card programs to its
commercial fleet customers. At the same time, FleetCor's CFN division, under
Bob Philips, will continue to roll out its well-received FleetWide, which
offers marketers the opportunity to issue their customers fleet cards that are
accepted in both CFN and Fuelman commercial fueling networks.
"We see incredible opportunity to better serve
petroleum marketers. The new FleetSource division will be a major driver of
innovation in this industry segment," said Ron Clarke, FleetCor's Chairman and
CEO. "FleetSource will serve the independent petroleum marketers with a set of
services that are currently only available to major oil companies".
Routh, a 15-year veteran of the oil and credit card industry will transition
from his current Chief Marketing Officer position at FleetCor into this new
role as President of FleetSource. "Since joining FleetCor a year and a half
ago, Benton has played an important role in helping FleetCor more than double
its revenue, and maintain its market leadership," explained Clarke. "His vision
for growth through innovation will ensure FleetSource adds to FleetCor's track
record of growth in the petroleum market's fleet card industry." Prior to
joining FleetCor, Benton was the Global Manager of the Commercial Vehicles and
Card Business at Exxon Mobil Fuels Marketing Company.
"As we start up this division, we'll leverage FleetCor technologies, and our
learnings from important Mannatec, CFN, and FleetNet customer and marketplace
relationships," said Routh. He believes the fleet card business geared towards
independent petroleum marketers has strong growth potential. "FleetSource will
drive the development of new products to meet industry needs that are currently
under-served," added Routh.
This new division signals FleetCor's commitment to continued growth with new
products and new channels of distribution. "We are developing a number of very
exciting ideas and initiatives to keep our growth going " it's an exciting
time," said Clarke.
Consistent with FleetCor's evolution to embedding growth-oriented initiatives
into its business units, most marketing functions formerly led by Benton Routh
as Chief Marketing Officer will be incorporated into the four FleetCor lines of
business: Fuelman, Major Oil Private Label, CFN and FleetSource. Routh will
continue to maintain responsibility for the remaining corporate marketing
functions such as brand strategy and public relations.
About Fleetcor
FleetCor, (www.Fleetcor.com), FleetCor, headquartered in Atlanta, was
established in 2000. It is one of the leading providers of commercial fleet
card issuing and processing services in North America. FleetCor's card programs
are marketed throughout the U.S. and Canada under a variety of private-label
and proprietary brand names, including BP, Citgo, Fuelman, FleetNet,
FleetSource, CFN, and Mannatec. FleetCor Technologies, Inc., and its
subsidiaries currently employ over 450 employees, processing 145 million
transactions on 2.4 million cards for 358,000 fleets through its Fleet
Operator, Petroleum Marketer, Major Oil Private Label and Co-brand businesses.
For more information on FleetCor, visit the company's web site at
www.fleetcor.com.
For further information:
Keka DasGupta / Richelle Wilcox
DDB Public Relations
416.972.7727 / 416-972-7787
keka.dasgupta@can.ddbpr.com / richelle.wilcox@can.ddbpr.com
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