FORT LAUDERDALE, Fla. — NationsRent recently selected D. Clark Ogle as CEO, a move subject to approval by the U.S. Bankruptcy Court. The Fort Lauderdale, Fla.-based consolidator has been searching for a new CEO since its December filing for Chapter 11 bankruptcy protection and subsequent resignation of former CEO James Kirk.
Philip Petrocelli, who has served as interim CEO during the search process, will continue with NationsRent as president and chief operating officer.
Ogle is a re-structuring expert, credit with successful turnarounds of several corporations including textile firm Johnston Industries. Ogle's efforts resulted in a restructuring of Johnston Industries' operations, significantly reducing bank debt, and the successful privatization of the company with a new investment group.
A committee of creditors, former owners of rental companies acquired by NationsRent, recently filed its own alternative restructuring plan, citing NationsRent's failure to hire a new CEO.
The company is No. 6 on the RER 100, with 235 locations in 26 states.