International Lease Finance Corporation (ILFC) has promoted Fred Cromer to president and Philip Scruggs to executive vice president. The lessor also announced that Alan Lund, who has served as vice chairman and president, has retired as president but will remain as vice chairman and member of the company’s board of directors.
ILFC chief executive officer, Henri Courpron says: “Fred has significant experience in commercial aviation and demonstrated success and expertise in ILFC’s aircraft financing. His leadership and ability to successfully adapt our business through challenging economic times will contribute greatly to ILFC’s strategic future in the industry.”
An airline industry veteran with 17 years of experience, Cromer joined ILFC in 2008 and has served as Chief Financial Officer since March 2010. As president and chief financial officer, he will head the corporate finance, planning, and operations departments.
Courpron says: “ILFC thanks Alan Lund for the astute and gracious leadership he has demonstrated for nearly three decades. We look forward to his ongoing vigilance and advice as a continuing member of our board of directors.”
Lund will serve as a special advisor to the senior executive team through June of this year. He joined ILFC in 1982 and has since held numerous management roles including executive vice president, chief financial officer, and chief operating officer.
New executive vice president Scruggs is an ILFC veteran of 17 years and will retain his current role as chief marketing officer. He will continue to manage the company’s global marketing activity, along with pricing, credit and contract administration.