U.S. Rentals adds three to board of directors following February IPO.
The company had previously indicated that additional outside directors would be appointed following completion of its initial public offering on February 21. As a results of these appointments, U.S. Rentals' board of seven directors now is comprised of four non-employees.
The new directors are: James P. Miscoll, vice chairman, retired, BankAmerica Corp.; Robert D. Paulson, director and former manager of the Los Angeles office of McKinsey & Company; and Keith W. Renken, retired, former managing partner, Los Angeles office, Deloitte & Touche LLP.
"The depth and breadth of experience these outside directors bring to our board strengthens U.S. Rentals' strategic objective of growing profitably in both existing and new markets through the acquisition and start-up of rental yards and the expansion of our equipment fleet," said Richard D. Colburn, chairman of the board.
Headquartered in Modesto, U.S. Rentals' 1996 revenues of $305.6 million made it the nation's second-largest equipment rental company. The multi-regional company currently offers more than 60,000 pieces of equipment at 82 equipment rental yards in 12 states, serving a diverse base of customers, including commercial and residential construction, industrial, and homeowner customers.
CONTACT: U.S. Rentals, Inc.
John S. McKinney, 209/544-9000
Kalt, Rosen & Associates
Howard Kalt, 415/397-2686