New York-based capital finance leasing company KYN Capital Group Inc. appointed Phil Sands as acting CEO as part of the restructuring of its "entire executive management."

Sands will replace Maria Daniels, who was dismissed from the company's board and CEO role on March 20.

KYN Capital controlling shareholder Clem Yeboah said in a release that Sands has been a consultant to the company for more than three years and that the company will announce the new management team and other acquisitions shortly.