United Rentals has announced that William Plummer, its executive vice president and CFO, will retire from his duties on 12 October, remaining with the company in an advisory capacity until 31 January 2019.
Plummer is the company’s longest-serving CFO, having joined United in 2008.
During his tenure, United said that Plummer had 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.
Taking over the reins will be Jessica Graziano, effective 12 October. Graziano joined United in December 2014 as controller and principle accounting officer and was promoted to her current role in March 2017. Her current role includes working with the senior leadership team as well as overseeing the company’s accounting, financial planning and analysis, and insurance departments.
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. The company’s newly-appointed CFO has also held senior financial positions with UST (now Altria Group), Sturm, Ruger & Co and KPMG.
On Plummer’s departure, Michael Kneeland, CEO 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.”
Meanwhile, Plummer added, “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 first-hand. I’m stepping down with the knowledge that, under her leadership, the company will continue its focus on balancing growth and returns.”