STAMFORD, Conn.–(BUSINESS WIRE)–United Rentals, Inc. (NYSE: URI), the world’s largest equipment rental
company, today announced that its president and chief executive officer,
Matthew Flannery, has finalized his executive leadership team. Mr.
Flannery succeeded Michael Kneeland as CEO on May 8, 2019, at which time
Mr. Kneeland became chairman of the board.
Two 20-year leaders of United Rentals have been promoted to new roles on
the executive team, effective immediately:
Paul McDonnell, Chief Commercial Officer. Mr. McDonnell will lead
the company’s specialty rental operations domestically and abroad, with
company-wide responsibility for sales, marketing and digital commerce.
Mr. McDonnell’s tenure with United Rentals began in district management
in 1999, followed by his appointment as region vice president. In 2008,
he was named senior vice president, specialty operations and oversaw the
strategic expansion of the company’s specialty footprint to more than
340 locations. Most recently, he served as executive vice president,
sales and specialty operations.
Dale Asplund, Chief Operating Officer. Mr. Asplund will lead the
company’s general rentals segment, with company-wide responsibility for
safety and operational excellence. In addition, he will continue to lead
the company’s functional organizations for information technology,
corporate fleet management and procurement. Mr. Asplund has served in
senior positions with United Rentals since joining the company in 1998,
including strategic leadership roles in supply chain operations, fleet
management, shared services and acquisition integration. Most recently,
he served as executive vice president, business services and chief
information officer.
Also continuing to serve on the executive leadership team are Craig
Pintoff, chief administrative and legal officer, and Jessica Graziano,
chief financial officer.
“Our company has benefitted from the seasoned leadership of Paul and
Dale for the past two decades,” said Matthew Flannery, chief executive
officer of United Rentals. “Their new roles underscore the deep bench
strength we have within United Rentals, as well as the continuity we’ve
achieved with our succession plan. I look forward to working with our
executive team and board of directors – and most of all, with our
employees – as we write the next chapter of our growth.”
About United Rentals
United Rentals, Inc. is the largest equipment rental company in the
world. The company has an integrated network of 1,165 rental locations
in North America and 11 in Europe. In North America, the company
operates in 49 states and every Canadian province. The company’s
approximately 18,600 employees serve construction and industrial
customers, utilities, municipalities, homeowners and others. The company
offers approximately 4,000 classes of equipment for rent with a total
original cost of $14.09 billion. United Rentals is a member of the
Standard & Poor’s 500 Index, the Barron’s 400 Index and the Russell 3000
Index® and is headquartered in Stamford, Conn. Additional information
about United Rentals is available at unitedrentals.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995, known
as the PSLRA. Forward-looking statements involve significant risks and
uncertainties that may cause results to differ materially from those set
forth in the statements. These statements are based on current plans,
estimates and projections, and, therefore, you should not place undue
reliance on them. No forward-looking statement can be guaranteed, and
actual results may differ materially from those projected. United
Rentals undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise. Forward-looking statements are not historical facts, but
rather are based on current expectations, estimates, assumptions and
projections about the business and future financial results of the
equipment rental industries, and other legal, regulatory and economic
developments. We use words such as “anticipates,” “believes,” “plans,”
“expects,” “projects,” “future,” “intends,” “may,” “will,” “should,”
“could,” “estimates,” “predicts,” “potential,” “continue,”
“opportunity,” “guidance” and similar expressions to identify these
forward-looking statements that are intended to be covered by the safe
harbor provisions of the PSLRA. Actual results could differ materially
from the results contemplated by these forward-looking statements due to
a number of factors, including, but not limited to: (1) the possibility
that our business may suffer as a result of uncertainty surrounding the
transition, (2) potential adverse effects on our ability to maintain
relationships with customers, employees and suppliers, (3) the inherent
risk associated with the planned change in leadership, and (4) other
risks and uncertainties described in the “Risk Factors” section of
United Rentals’ Annual Reports on Form 10-K, Quarterly Reports on Form
10-Q and other documents filed from time to time with the SEC. United
Rentals gives no assurance that it will achieve its expectations and
does not assume any responsibility for the accuracy and completeness of
the forward-looking statements.
The foregoing list of factors is not exhaustive. You should carefully
consider the foregoing factors and the other risks and uncertainties
that affect United Rentals described in the “Risk Factors” section of
documents filed from time to time with the SEC. All forward-looking
statements included in this document are based upon information
available to United Rentals on the date hereof; and United Rentals
assumes no obligations to update or revise any such forward-looking
statements.
Contacts
For Financial Analysts:
Ted Grace
(203) 618-7122
Cell:
(203) 399-8951
[email protected]
For Press:
Bill Wohl
(203) 622-3131
Cell: (475)
232-6663
[email protected]
