United Rentals Inc. issued the following announcement on July 2.
United Rentals, Inc. (NYSE: URI) announced that William Plummer will retire as executive vice president and chief financial officer on October 12, 2018. Mr. Plummer is the company’s longest-serving CFO, having joined United Rentals in 2008. He will remain with United Rentals until January 31, 2019, in an advisory capacity.
The United Rentals board of directors has appointed Jessica Graziano as chief financial officer, effective October 12. Ms. Graziano joined United Rentals in December 2014 as controller and principal accounting officer and was promoted to her current role in March 2017. In this role, she works closely with the senior leadership team and oversees the company’s accounting, financial planning and analysis and insurance departments. Ms. Graziano has more than two decades of financial management experience, previously serving as senior vice president, principal financial officer, chief accounting officer and corporate controller for Revlon Inc. Earlier, she held senior financial positions with UST Inc. (now Altria Group), Sturm, Ruger & Company Inc. and KPMG LLP.
Michael Kneeland, chief executive officer of United Rentals, said, “We deeply appreciate Bill’s extraordinary contributions to United Rentals over the last decade and the strong leadership he has provided. He will remain available to the executive team in an advisory capacity. On a personal note, I want to thank Bill for being an incredible partner in transforming our company and serving our shareholders. We all wish him the very best in his retirement from the company.”
During his tenure at United Rentals, Mr. Plummer brought his significant expertise to bear on behalf of the business. He has been instrumental in helping the company execute a strategy of strong organic growth and acquisitions, strengthening the company’s capital structure, and improving profitability and free cash flow that, combined, have created substantial shareholder value.
Mr. Plummer said, “It has been a privilege to provide financial leadership to United Rentals during a pivotal 10 years of growth. While I’m incredibly proud of the results we produced, I’m even more proud of the team that delivered those results, and I know they will continue to do so. Jessica and I have worked closely together for more than three years, and I’ve seen her strengths firsthand. I’m stepping down with the knowledge that, under her leadership, the company will continue its focus on balancing growth and returns.”
Mr. Plummer’s experience prior to United Rentals included positions as chief financial officer of Dow Jones & Company and treasurer of Alcoa, Inc. He is the recipient of numerous awards, including recognitions as one of America’s Best CFOs by Institutional Investor magazine, and one of the 100 Most Powerful Executives in Corporate America by Black Enterprise magazine. He serves on the boards of directors of John Wiley & Sons, Inc. and Global Payments, Inc.
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