Kit Wisdom has assumed leadership at salary sacrifice specialist Tusker as CEO Paul Gilshan steps down.

Kit Wisdom becomes Tusker MD with immediate effect

Previously Tusker’s chief operating officer, Wisdom is now managing director with immediate effect and joins the Lloyds Banking Group Transport senior leadership team, operated under CEO Nick Williams.

Paul Gilshan will now take a place on the Tusker board as a non-executive director.

The changes come nearly a year after Lloyds Banking Group acquired Tusker for £300m in February 2023. The group, which also provides car and van leasing through its Lex Autolease and Black Horse businesses, said Tusker would remain a standalone business, helping to drive its participation in vehicle leasing with a net zero focus.

Since then, Lloyds has made Tusker the sole salary sacrifice provider for all new group business, recognising Tusker’s strengths as a market leader in the car benefits sector.

Founded in 2000, Tusker provides traditional contract hire company car schemes but is also a pioneer in salary sacrifice, supporting fleets with the move to electric vehicles and the transition to net zero. Figures revealed by the firm in July 2023 revealed 86% of new vehicle deliveries and 67% of its overall fleet were fully electric.

Kit Wisdom joined the business in 2018, initially as operations director before becoming chief operating officer last year. He has significant experience in leasing – including seven years at Alphabet –  positioning him as a clear successor to drive Tusker’s growth in salary sacrifice car schemes across the UK.

Wisdom commented: “My time at Tusker has allowed me to gain a deep understanding of the business, its strengths, customers and importantly, the talented team it employs. Driven by our purpose to help the UK drive a better car, I look forward to steering and leading Tusker’s next phase of growth in the coming years.”

Gilshan joined Tusker in 2016, becoming CEO in 2018. His many achievements include growing the fleet size to 40,000 with a large proportion of EVs and supporting work to achieve its net zero target ahead of time. Gilshan also oversaw the successful sale of the business to Lloyds Banking Group in 2023.

Gilshan commented: “I am proud to leave the company in such a strong position as a market leader, fully set up to take advantage of the growing salary sacrifice market. This is an opportune moment for me to pass on the leadership reigns and to support the business in a different way as non-executive director.”

Nick Williams, CEO of Lloyds Banking Group Transport, said: “As we reach our first full year of Tusker being part of Lloyds Banking Group, it is brilliant to see how much we have achieved together in such a short amount of time. I am delighted and welcome Kit into his new role as Tusker’s managing director and wish Gilsh all the very best in his non-exec role.

“I look forward to the next phase of our journey and have no doubt Tusker will continue to lead the way in keeping Britain moving towards a more sustainable future.”