Central Contracts aims to secure its long-term future

Pictured: Central Contracts managing director Mike Lloyd (left) and Gareth Roberts, strategic director

CENTRAL Contracts, the independent contract hire and leasing broker trading as www.LeaseCar.uk, has implemented a new succession strategy for its next generation of leadership and to secure the company’s long-term future.

Adopting an Enterprise Management Incentive (EMI) scheme, the company – which was established in 1998 – has made four key senior staff members into shareholding directors. The EMI scheme grants a direct ownership stake to key staff members, providing them with a performance stake in the company’s success.

The four new shareholding directors are:

Gareth Roberts – strategic director
Tim Alcock – marketing and sales director
Bronwyn Powell – director of accounts
Amie Lloyd –administration director

As part of this transition, Bronwyn and Amie have also been appointed to the company’s board, promoting greater representation across all business activities and creating a clear path for younger staff to advance. Bronwyn was recently featured in our Women in Broking series.

The initiative also includes ad hoc dividend payments based on quarterly performance but the business’s focus will be on reinvesting funds to ensure continued growth.

Gareth Roberts, strategic director, said: “On behalf of all of us, we’re delighted to be recognised and appointed as successors. Our goal is to continually strengthen the business as we move forward, and a big part of that is building and maintaining strong client relationships, which are essential for long-term success. We know the business, we understand our clients’ needs, and the future of Central Contracts is at the forefront of our minds.”

Gareth also emphasised the importance of representation within the industry.

“These appointments demonstrate our commitment to inclusivity in the workplace. The current senior leaders have already begun to actively step back, encouraging the new shareholding directors to take ownership of business activities.”

Gareth Roberts, strategic director Central Contracts Tweet

“It’s a process, and succession won’t happen overnight, but it’s important that we can demonstrate management continuity. Senior members have done a great job of securing Central Contracts’ current position, but now it’s time for the next generation to take the reins and keep us moving into the next era of leasing and hire.”

Central’s new partnership for AI

In addition to the leadership transition, Central Contracts is making significant investments in its future growth. The company has partnered with Fresh Egg for digital platform development and secured a 12-month contract with an AI and telephony company.

The new AI solutions are expected to improve sales efficiency by automating routine tasks and enhancing customer engagement.

Gareth concluded: “We believe AI will increase customer retention rates along with providing vital assistance across the pricing and admin department as the business continues to grow. It will also help automate our processes, like vehicle taxing to allow our staff to focus on more valuable tasks. As the sector transforms, so do we. This succession plan is also a plan to secure our future.”