01—Abstract
Summary
Summary of the 8-K filed October 12, 2018. Cited figures are marked; the original filing is the authoritative source.
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.
02—Key points
Key Highlights
- Andrew Limoges appointed as Vice President, Controller, and Principal Accounting Officer, effective October 12, 2018.
- Mr. Limoges succeeds Jessica T. Graziano, who recently became Executive Vice President and Chief Financial Officer.
- Mr. Limoges has prior experience at United Rentals as Director of Accounting and Finance since April 2017.
- His professional background includes significant time at Ernst & Young in financial audit.
- Mr. Limoges is a Certified Public Accountant.
- An employment agreement is in place with Mr. Limoges, including provisions for termination without cause and restrictive covenants.
03—Questions
Frequently Asked Questions
Who is the new Principal Accounting Officer at United Rentals?
Andrew Limoges has been appointed as the new Vice President, Controller, and Principal Accounting Officer of United Rentals, Inc., effective October 12, 2018.
Why is there a change in the Principal Accounting Officer role?
The change is due to Jessica T. Graziano, the previous Principal Accounting Officer, having recently assumed the role of Executive Vice President and Chief Financial Officer.
What is Andrew Limoges' background?
Andrew Limoges has served as United Rentals' Director of Accounting and Finance since April 2017. Before joining the company, he spent over a decade at Ernst & Young in their financial audit practice and also served as Group Controller for DMGT US.
Are there any specific terms in Mr. Limoges' employment agreement that investors should be aware of?
Yes, his employment agreement includes provisions for one year of salary continuation if terminated without 'cause,' and he is subject to confidentiality, non-disparagement, non-competition, and non-solicitation covenants for specified periods.
04—Continue