TEL leadership announced that Jud Alexander, president of the company, has also been named CEO.

Alexander said his appointment was especially meaningful because the CEO title was previously held by Doug Carmichael, who co-founded the business with him 22 years ago and passed away in 2024. The promotion is also a significant development as TEL — a leading national provider of commercial truck leasing, sales and remarketing — expands beyond trucks and trailers to finance a variety of heavy equipment for transportation, logistics, construction, and other industries.

“I am excited to serve as CEO of this wonderful company and to continue my current duties as president,” Alexander said. “Doug was my friend and we built TEL together. It’s an honor to follow in his path as CEO.”

Alexander continued, “My leadership moving forward will focus on TEL’s evolution as an equipment finance company. The heart of our business for over 20 years has been Class 8 truck and semi-trailer financing and sales to fleets and owner-operators. This remains our core strength, but we have added other strengths by developing broader equipment financing capabilities.”

As part of this continued growth, TEL recently began development of a new facility in Palmer, Texas, expanding its footprint in the Southwestern United States. The Palmer location will enhance TEL’s ability to serve leasing and equipment sales customers across the region, improving responsiveness, inventory access, and local support for fleets and owner-operators.

TEL officially launched its equipment finance division in March 2025 under the leadership of industry veteran Jennifer Sablowski. Since then, the company has delivered lease and loan financing for heavy-duty and medium-duty trucks, specialty trailers, material handling and warehouse equipment, construction equipment, yellow iron machinery and many other assets.