Mr Hickman is an MBA-qualified chartered accountant with extensive financial experience. He has held various positions within on- and off-highway industries, including transportation and mining.

He joins Penske from his previous role as finance director for Cummins Asia Pacific, which he held for more than four years.

Prior to this, he was finance director for Cummins South Pacific and previously held senior finance positions at General Electric including finance leader of Distributed Power for Australia, New Zealand and Papua New Guinea.

Mr Hickman also spent more than 15 years working in the mining industry, including as financial controller of the gold division for Western Mining and chief financial officer of Regis Resources.

Penske Australia & New Zealand managing director Hamish Christie-Johnston said: “With the wealth of experience that Tim brings, I am thrilled to welcome him to our senior leadership team.

“Having worked in the same industries in which Penske operates will hold us in excellent stead as we continue to expand our operations.

“A native New Zealander who commenced his career there, Tim also brings a cross-Tasman approach that will be advantageous to our business.”

Mr Hickman will be based at Penske Australia & New Zealand’s Melbourne office in Altona North.

By Neil Dowling