Washington, D.C., Sept. 23, 2026 – The Equipment Leasing & Finance Association (ELFA) announced that its 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. This decision follows ELFA’s earlier announcement that President & CEO Leigh Lytle would conclude her tenure with the Association later this year.
“I am so pleased that James has agreed to serve as Acting President & 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, he 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.
“I am honored to serve ELFA during this important transition,” Cress said. “ELFA has an outstanding staff, a highly engaged membership and important work underway across the Association. My focus will be on supporting our people, maintaining continuity and ensuring that ELFA continues delivering at the highest level for its members while the Board conducts the search for our next permanent President & CEO.”
Cress will work closely with ELFA’s senior leadership team and staff to ensure continuity across the Association’s work and continued execution of its strategic priorities.
“We are grateful to Leigh for her leadership and service to ELFA and pleased to welcome James to this important leadership role,” said Deborah Baker, Chair of the ELFA Board of Directors.
About ELFA
The Equipment Leasing & Finance Association (ELFA) represents financial services companies and manufacturers in the $1.3 trillion U.S. equipment finance sector. ELFA’s over 600 member companies provide essential financing that helps businesses acquire the equipment they need to operate and grow. Learn how equipment finance contributes to businesses’ success, U.S. economic growth, manufacturing and jobs at www.elfaonline.org.
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Media Contact: Jane Esworthy, VP, Communications & Marketing, ELFA, [email protected]
