Summary
United Rentals, Inc. (URI) filed an 8-K on October 12, 2018, to announce a key executive transition. Andrew Limoges has been appointed as the new Vice President, Controller, and Principal Accounting Officer, effective immediately. This change follows Jessica T. Graziano's recent assumption of the Executive Vice President and Chief Financial Officer role, as previously disclosed. Mr. Limoges brings extensive experience from his previous role as Director of Accounting and Finance at United Rentals and a background in financial auditing from Ernst & Young. The company has also entered into an employment agreement with Mr. Limoges, outlining standard provisions such as salary continuation in case of termination without cause, and confidentiality, non-disparagement, non-competition, and non-solicitation covenants. This appointment and the associated employment terms are important for investors to note as they pertain to the company's financial reporting and internal controls leadership.
Key Highlights
- 1Andrew Limoges appointed as Vice President, Controller, and Principal Accounting Officer, effective October 12, 2018.
- 2Mr. Limoges succeeds Jessica T. Graziano, who recently became Executive Vice President and Chief Financial Officer.
- 3Mr. Limoges has prior experience at United Rentals as Director of Accounting and Finance since April 2017.
- 4His professional background includes significant time at Ernst & Young in financial audit.
- 5Mr. Limoges is a Certified Public Accountant.
- 6An employment agreement is in place with Mr. Limoges, including provisions for termination without cause and restrictive covenants.