Troubled American lessor CIT Group has appointed Peter J. Tobin
as interim chief executive officer while the search continues for a
replacement to Jeffrey Peek, who stepped down last week.

Tobin, 64, a member of CIT’s board of directors, will remain on
the board, where he has held several leadership positions,
including chairman of the audit committee, chairman of the risk
management committee and lead director.

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“The search for a permanent CEO continues to progress as the
board seeks to fill this position in an expeditious manner,” a
spokesperson said. “Once appointed, the CEO will also serve on
CIT’s board of directors.”

Tobin has held a number of executive positions during his
career, including CFO of The Chase Manhattan Corporation and CFO of
Chemical Banking Corporation.

He has been a director of CIT since July 2002, and previously
from May 1984 to June 2001.

Jason T Hesse

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