Fales to Succeed Sutton as Head of VAR Technology Finance
OCT 25, 2019 - 6:35 am
Gary Sutton, industry veteran and president and CEO of VAR Technology Finance, a division of LEAF Commercial Capital, will retire in January 2020. Jonathan Fales, vice president of Business Development at VAR, will assume leadership of the company, while Kirk Sipes and Mark Finch will assume expanded business and program development roles as Sutton steps down.
“As the creator of VAR, one of the nation’s leading third-party technology finance companies, Gary is a driving force and an influencer industry-wide,” said LEAF chairman and CEO Crit DeMent. “His contributions have played a key role not only in the growth of VAR, but in helping to shape the financing industry through more efficient processes and advanced technology. We thank him for his decades of dedication to VAR’s success and wish him well as he retires.”
“Since 1988, Gary has worked tirelessly to build VAR into the innovative technology leasing and finance company it is today,” said LEAF president and COO Miles Herman. “We deeply appreciate all that he has done for the Company and we’re excited to continue building on the foundation he’s created.”
“Handing over the reins of a company you’ve worked more than 30 years to grow isn’t easy,” said Sutton. “But after much thoughtful consideration, I decided that there are no better hands to leave the company in than those at LEAF and People’s United Bank. With a philosophy and approach that’s very similar to the one that has served VAR so well over the years, LEAF and People’s United Bank are uniquely equipped with the right mix of people, resources and technology to help VAR write the next chapter in its success story.”
Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!
Joe Nachbin’s passion for equipment finance was so strong, he remained dedicated to his work until two hours before he passed away in July 2022, according to his wife, Ruby Nachbin. Attorney and investment banker, Paul Bent, senior managing director... read more
Robert Preville is a serial entrepreneur and investor constantly on the move, having founded and led several high-growth companies in the B2B arena before leading APPROVE, an embedded finance software. Earning this year’s Disruptor Icon award, Preville’s approach to leadership... read more