Leading sustainable mobility specialist, Arval UK, has announced a change to its executive management team, with the appointment of a new Managing Director.

Its current lead, Miguel Cabaca, has headed-up the UK business since December 2017 and will take up a new position within the group in Spain, as its Managing Director.

Having held the UK MD role for more than 3 and a half years, he leaves the business following a period of sustainable growth, taking the company to a leading position with electric vehicle uptake and increasing its fleet from 160,000 to well over 175,000 vehicles today.

Replacing Miguel will be Lakshmi Moorthy who is expected to start her new role in March, subject to regulatory approval. Already UK based with an in-depth knowledge of the market, she joins from her current role as Global Retail Director within Arval’s Corporate Head Office, in Paris.

With more than 20 years of experience in consumer and commercial finance roles, Lakshmi has worked in countries including the UK, India and France. From 2002, she held various positions at GE Capital before joining Arval in 2015.

Cabaca said: “It’s been a great journey leading Arval UK and I’m proud of the achievements of the whole team, especially in the last year which has been extremely tough for everyone. I’m sure that under Lakshmi’s leadership, the UK business will continue to go from strength to strength.”

Moorthy said “In the last 3 and a half years Miguel and the team have made incredible progress in developing market-leading solutions for our customers. I’ll be looking to build on that strong foundation, continuing our relentless focus to improve customer experience and drive innovation to ensure that Arval UK remains at the forefront of sustainable mobility solutions for businesses and individuals.”