The Equipment Leasing & Finance Association (ELFA) Board of Directors has selected James Cress, ELFA’s Immediate Past Chair, to serve as Acting President & CEO while the Association searches for its next permanent President & CEO, according to an email sent to members. Cress will begin working with current President & CEO Leigh Lytle, who will conclude her tenure with the Association later this year, and ELFA’s senior leadership team.
“I am so pleased that James has agreed to serve as interim President and CEO," said Lytle. “He is an experienced, forward-looking leader and I have great confidence that he will ensure our important work to position the industry for the future continues.”
Cress brings more than 30 years of banking and equipment finance experience and deep knowledge of ELFA and its membership. He spent nearly 18 years with Stryker, where he most recently served as Vice President and General Manager of Flex Financial, Stryker’s captive finance business. During his tenure, Cress helped build and lead Flex Financial into a significant healthcare finance operation serving customers across North America and Europe. Before joining Stryker in 2008, Cress spent eight years with National City Commercial Capital and earlier worked in commercial banking with U.S. Bank.
Cress also has a long history of leadership within ELFA. An active member for more than two decades, he served as Chair of the ELFA Board of Directors in 2024–2025. His ELFA involvement has included service on the Board of Directors, leadership of LeasePAC, participation in the Captive and Vendor Finance Business Council Steering Committee, and significant involvement in ELFA’s advocacy and emerging-talent initiatives.
As part of this next phase, Lytle and Cress will coordinate the transition of responsibilities, with a focus on continuity across the Association’s work and execution of its strategic priorities. Throughout this period, ELFA’s leadership team will remain focused on supporting staff, maintaining organizational momentum and delivering at the highest level for members.