United Rentals Appoints Martin Welch as Interim Chief Financial Officer
September 12 2005 - 6:59AM
Business Wire
United Rentals, Inc. (NYSE:URI) today announced that it has
appointed Martin E. Welch as interim chief financial officer,
effective immediately. Welch has spent more than three decades in
financial management for public and private companies. His
reputation is that of an accomplished leader capable of
establishing strong finance organizations and effective financial
controls. Wayland Hicks, chief executive officer, said, "The
appointment of Marty Welch as interim CFO provides our company with
strong financial leadership. He will play a crucial role in our
organization as we continue to work expeditiously to complete our
financial statements for 2004 and the first half of 2005. His
proven track record as an effective executive with extensive
financial experience will allow him to contribute immediately."
Welch will serve in this interim capacity while the company
proceeds to fill the position left vacant by the termination of
president and chief financial officer John N. Milne in August.
Welch most recently served as director and business advisor to the
private equity firm, York Management Services. Welch joined Kmart
Corporation as chief financial officer in 1995 and served in that
capacity until 2001. During that time, he was instrumental in
restructuring the company's balance sheet and strengthening all
aspects of the financial operations, including the successful
redeployment of financial resources in support of company goals.
Welch served as chief financial officer for Federal-Mogul
Corporation from 1991 until 1995. He held various finance positions
at Chrysler Corporation from 1982 to 1991, including chief
financial officer for Chrysler Canada. Welch began his career in
1970 at Arthur Young (now Ernst & Young), and is a certified
public accountant. He currently serves on the boards of York
portfolio companies Northern Group Retail Ltd. and Popular Club
Plan. He holds a Bachelor of Science degree in accounting and a
Masters of Business Administration in finance, both from the
University of Detroit Mercy. About United Rentals United Rentals,
Inc. is the largest equipment rental company in the world, with an
integrated network of more than 730 rental locations in 48 states,
10 Canadian provinces and Mexico. The company's 13,200 employees
serve construction and industrial customers, utilities,
municipalities, homeowners and others. The company offers for rent
over 600 different types of equipment with a total original cost of
$3.9 billion. United Rentals is a member of the Standard &
Poor's MidCap 400 Index and the Russell 2000 Index(R) and is
headquartered in Greenwich, Conn. Additional information about
United Rentals is available at unitedrentals.com.
United Rentals (NYSE:URI)
Historical Stock Chart
From Jun 2024 to Jul 2024
United Rentals (NYSE:URI)
Historical Stock Chart
From Jul 2023 to Jul 2024