14.09.2005

United appoints Interim CFO

United Rentals, has appointed Martin E. Welch as interim chief financial officer, effective immediately. This follows the dismissal of President and Chief Financial Officer, John Milne last month

Welch most recently served as director and business advisor to the private equity firm, York Management Services.

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.

He has also worked with K-Mart as chief financial officer from 1995 until 2001, where he was instrumental in restructuring the company's balance sheet . He has also worked with Federal-Mogul Corporation and Chrysler.

Welch will serve in this interim capacity while the company recruits a replacement for John Milne, the president and chief financial officer who was fired in August.


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."