Algeco Scotsman has announced that Sunny Thakrar will be promoted to group chief financial officer, following the resignation of Stephen Bishop, who has served the role since 2014.

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Thakrar is currently European chief financial officer, and will take up his new role once Bishop steps aside.

Diarmuid Cummins, CEO of Algeco Scotsman, said, “As we embark on our next phase of development with a more Europe-centric business, I am happy to welcome Sunny as our new CFO.

“Sunny brings a wealth of experience, most importantly as CFO of Algeco Scotsman Europe for the last two years. His knowledge of the leasing business and his experience with both private and public companies will be very valuable to Algeco Scotsman.”

Cummins added his thanks to the outgoing chief financial officer for his dedication, citing his “significant contributions” to the group. He said that under Bishop’s leadership, the company’s finance organisation and capital discipline had been greatly improved.

Algeco Scotsman is the world’s largest portable accommodation and storage rental company, based in Baltimore, US. It operates in 24 countries and has approximately 245,000 modular space and portable storage units, as well as 11,400 remote accommodations rooms.

The company operates as Target Logistics in North America, Algeco in Europe, Elliott in the United Kingdom, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China. In August last year, the company sold its North American business, Williams Scotsman, to Double Eagle Acquisition Corp (DEAC) for US$1.1 billion (€880 million).

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