Mr Brennan will be leaving LeasePlan to take on a CEO role for a private equity-backed business. Dave Stickland, the company’s finance director, will act as interim managing director until a successor is appointed.

During his time with the firm, Mr Brennan has overseen the substantial growth of LeasePlan UK, both in profits and scale. The current UK funded fleet of 135,000 is the largest the company has ever managed.

David Brennan said: ‘I feel I can look back on the past eight years with huge pride, and I’m very happy with the current health of the business. I’ve enjoyed my time at LeasePlan immensely and I would like to express my thanks to each and every member of staff for their outstanding work during my time with the company.

‘I will leave LeasePlan on the best possible terms and I have passed on my best wishes to the UK management team for the future.'

Vahid Daemi, global CEO of LeasePlan, said: ‘LeasePlan UK has been extremely successful during David's time as Managing Director, particularly as this eight year period has included some very difficult economic conditions. We would like to thank David for his huge contribution and wish him continued success in the future.’