- Push-out Score suggests push-out forces
- After almost 10 years in the position
- Accolades, praise, thanks and good wishes for Plummer
- Jessica Graziano taking over
- Plummer spoke at length and said 87 words
(exechange) — Stamford, Connecticut, July 2, 2018 — Bill Plummer, finance chief of United Rentals, leaves the position. As announced by United Rentals, Inc. in a news release and in a regulatory filing published on Monday, July 2, 2018, William B. (Bill) Plummer leaves his post as chief financial officer at the equipment rental company after almost 10 years in the role, effective October 12, 2018.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CFOs who departed over the past 12 months was 6.7 years, according to data compiled by exechange.
Plummer leaves the company effective January 31, 2019.
Plummer’s duties will be taken over by Jessica T. Graziano, currently Senior Vice President – Controller and principal accounting officer of United Rentals, Inc.
No reason given
In the announcement, United Rentals did not explicitly explain the reason for Plummer’s move, leaving room for speculation.
Precise information about Plummer’s future plans was not immediately available.
United Rentals said: “William Plummer will retire as executive vice president and chief financial officer on October 12, 2018.”
Share price decline
The change follows a decline in the share price of United Rentals, Inc. since March 2018.
Chaired by Jenne Britell
United Rentals, Inc. is chaired by Jenne K. Britell.
Jenne K. Britell, Ph.D. became a director of the Company in December 2006 and Chairman of the Board in June 2008.
CEO: Michael J. Kneeland
Michael J. Kneeland serves as CEO of United Rentals, Inc. Michael J. Kneeland was appointed chief executive officer of United Rentals, and a director of the Company, in 2008.
In the position of CFO since 2008
William B. Plummer has been the Chief Financial Officer and Executive Vice President at United Rentals, Inc. since December 1, 2008.
Plummer is the company’s longest-serving CFO.
His more than two decades of financial leadership experience include positions as chief financial officer of Dow Jones & Company, where he set policy for global finance and corporate strategy, and vice president and treasurer of Alcoa Inc., where he was responsible for global treasury policy and relationship management with commercial and investment banks.
Previously, he held executive positions with Mead Corporation and General Electric Capital Corporation.
Plummer serves as a director for John Wiley & Sons, Inc., where he is a member of the audit and technology committees, and for Global Payments Inc., where he is a member of the audit and risk oversight committees.
Plummer holds degrees in aeronautics and astronautics from the Massachusetts Institute of Technology, and a master of business administration degree from Stanford University’s Graduate School of Business.
He will remain with United Rentals until January 31, 2019, in an advisory capacity.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Bill Plummer’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.
Read the full story in the exechange report 28.2018 ($).