GE leasing executive Joe Artuso has been named president and chief executive officer of GE’s Trailer Fleet Services business. The over-the-road trailer firm — formerly known as TIP, or Transport International Pool — has been serving the trucking industry for nearly 50 years and is operated as a combined entity with GE’s Modular Space business.
Artuso will lead the two businesses, which own more than $3 billion in over-the-road trailers and modular buildings that generate annual sales revenue in excess of $1 billion. There are 300 employees at the headquarters location in Wayne, Pa., and another 1,500 at the branch locations. The Trailer Fleet Services business serves shippers, freight carriers and private fleets across all major industries. Modular Space customers come from construction, education, healthcare and commercial markets.
Artuso replaces Marty Thomas, who has accepted an executive assignment with GE’s Lighting business. Artuso previously was the chief risk officer GE Equipment Services, following an earlier assignment as asset management leader in the former GE Capital business. He joined GE Capital as a credit and collections analyst for GE Commercial Equipment Financing shortly after graduating from the University of Delaware in 1980 with a degree in finance. He worked his way up to branch credit manager before moving to a sales role in 1983. After two years as the top sales representative for CEF, Artuso was promoted to branch manager and then to sales and marketing manager for the Southeast in 1987.
From 1990 to 1994, Artuso worked outside of GE, starting and managing a leasing division of a Japanese bank and launching a vendor-financing unit for a boutique venture leasing firm. He returned to GE Capital in 1994, joining GE Vendor Financial Services in a variety of business development and acquisition assignments. In 1997, he was tapped to establish an asset management function for VFS. In 1998, Artuso was promoted to general manager of VFS’ Telecom Financing unit.
Trailer Fleet Services is a business unit of Stamford, Conn.,-based GE Equipment Services, a global provider of transport solutions for the world’s supply chains. Offering a range of equipment leasing and intelligence-based asset management and logistics services for manufacturers, retailers and shippers, Equipment Services provides worldwide movement of raw materials and cargo.