Merchants Fleet Announces the Retirement of Chairman, CEO & President Brendan P. Keegan
HOOKSETT, N.H., March 8, 2024 — Merchants Fleet, the nation’s fastest-growing fleet management company, has announced the retirement of its Chairman, CEO & President Brendan P. Keegan, effective May 17, 2024. After more than 15 years of dedicated service and fearless leadership, Keegan has decided to retire to pursue his many passions. He will remain the company’s third-largest shareholder and its number-one fan. Brad Burgess, Senior Vice President, Sales & Marketing, and Kirk Hoffman, CFO, will serve as interim co-CEOs and together bring more than 40 years of experience in the fleet management industry.
“Brendan has been a visionary leader, driving significant growth and has positioned Merchants Fleet at the forefront of the fleet management industry,” said Olof Bergqvist, Merchants’ Board Member, Bain Capital. “His passion, energy, and commitment to excellence have left an indelible mark on the company. We thank him for his fearless leadership and wish him the best in his retirement.”
Keegan’s journey with Merchants Fleet began in 2009, initially as the company’s largest client before joining the board of directors and later serving as the chair of the compensation committee. In 2017, Keegan stepped in as a strategic advisor and interim CEO, and in 2018, he fully committed to the role of CEO, becoming the third individual ever to hold the position within the company.
“It has been an honor to lead Merchants Fleet and witness its evolution into an industry leader,” said Keegan. “I am proud of the culture of innovation we have fostered, which has been a huge influence on our growth. As I remain the company’s third largest shareholder, I am confident in the strong foundation we have built and am extremely optimistic for the future of Merchants Fleet.”
Under Keegan’s leadership, Merchants Fleet embraced innovation and achieved unparalleled growth in the industry. He was instrumental in leading a growth equity raise in 2020, securing a partnership with Bain Capital. This was followed by a successful strategic sale in 2022 to Bain Capital, and a subsidiary of Abu Dhabi Investment Authority, along with the management team, marking a significant milestone in the company’s history.
