Fair CEO Bradley Steward Credit: Fair
Leading automotive leasing technology provider Fair, who offers customers a subscription model to lease vehicles, has announced Bradley Stewart as the company's new CEO. Stewert will take over from Fair's interim CEO Adam Hiebe, who will return to his role as an Operating Partner at SoftBank but remain on Fair's board.
"More than ever, people are looking for ways to access mobility in a digital, contactless, and financially flexible way. Fair delivers on this by leveraging an unparalleled level of data and operational discipline, leaving Brad and the team well-positioned to seize the gigantic opportunity in front of them," Hieber said. "Leading Fair and its world-class team over the past six months has been one of the most rewarding professional experiences of my life. Their passion for customers and focus on innovation are apparent every day, and I look forward to supporting them to grow Fair into a great household brand."
Stewart most recently served as the CEO of XOJet an on-demand aviation services platform. Prior to his time at XOJet, Stewert worked at leading Private Equity firm TPG Capital and consulting firm McKinsey.
In a conversation with Stewart, he let us know that what attracted him to Fair is the company's product and the need it addresses in the automotive industry. He noted "people are more open to going on that digital journey" and Fair fills a number of gaps in the current automotive leasing market.
Stewart also stated that he loves leading, and while starting as CEO in the middle of a pandemic is not ideal but noted "leaders lead" regardless of the circumstances. As he gets started, he looks forward to working with the current team at Fair and is excited to tackle the challenges that come with being a disruptor to an established industry.
Stewart's goals as he takes over at Fair include making sure the company's financing plan is thoughtful and flexible for customers, further product buildouts, and geographic expansion.
"Fair is transforming the car from an owned asset that loses much of its value over time into a service that can be turned on or off like the countless other subscriptions people access on their phones," said Fair Founder & Chairman Scott Painter. "Brad's passion for Fair's unique offering is evident and exciting, and his experience innovating a mobility model that eliminates unwanted elements of ownership makes him the perfect choice to lead Fair into the future."