United Rentals, Inc. has announced that it has appointed William B. Plummer as Chief Financial Officer, effective December 1, 2008. Mr. Plummer brings more than two decades of financial leadership experience to United Rentals, most recently as Chief Financial Officer of Dow Jones & Company. In that role, he set policy for its global finance and corporate strategy functions. Prior to Dow Jones, Mr. Plummer was Vice President and Treasurer of Alcoa Inc., where he was responsible for global treasury policy and relationship management with commercial and investment banks. He has also held similar executive positions at Mead Corporation and General Electric Capital Corporation.
Mr. Plummer will replace Martin E. Welch, who will be leaving after a three- year tenure in which he was instrumental in strengthening the company's capital structure and financial reporting systems. Mr. Welch, who is leaving to pursue other opportunities, has agreed to stay on for a transition period and to help close the company's books for 2008.
"We are delighted that Bill has agreed to join United Rentals," said Michael J. Kneeland, CEO and president. "He brings a proven track record that clearly demonstrates a deep understanding of the financial processes that will help us create business and financial metrics to further drive profitable growth. I look forward to working closely with Bill as a key member of our senior management team. At the same time, we are grateful to Marty Welch for all he has contributed to our company since 2005 and wish him all possible success in his future endeavors."
"I am thrilled about joining United Rentals," Mr. Plummer said. "In a little more than 10 years, the company has become the leader in equipment rental, building an impressive geographic footprint in an industry that can expect further growth as the benefits of rental become even more compelling. I am also excited about the opportunity to work with Mike Kneeland and his team as we steer the company through the current economic headwinds and position it as an even stronger industry leader in the years ahead."
Mr. Plummer serves as a director of John Wiley & Sons, Inc. and is chairman of its audit committee. He is a graduate of the Massachusetts Institute of Technology, where he earned both a BS and a MS in aeronautics and astronautics, and is also a graduate of Stanford University's Graduate School of Business, where he earned an MBA. He is a resident of Greenwich, Conn.