GREENWICH, Conn. — United Rentals last month announced the appointment of Martin Welch as interim chief financial officer. Welch has more than three decades experience in financial management for public and private companies. Welch will serve in the interim capacity while United seeks a permanent replacement for former CFO and president John Milne.
“The appointment of Marty Welch as interim CFO provides our company with strong financial leadership,” said CEO Wayland Hicks. “He will play a crucial role in our organization as we continue to work expeditiously to complete our financial statements for 2004 and the first half of 2005. His proven track record as an effective executive with extensive financial experience will allow him to contribute immensely.”
Welch most recently served as director and business adviser to the private equity firm York Management Services. He joined Kmart as CFO in 1995 and served in that capacity until 2001. During that time, Welch was instrumental in restructuring the company's balance sheet and strengthening all aspects of the financial operations, including the successful redeployment of financial resources in support of company goals.
Before his stint at Kmart, Welch was CFO for Federal-Mogul Corp. from 1991 to 1995 and held various financial positions at Chrysler Corp. from 1982 to 1991, including CFO for Chrysler Canada.
United Rentals is No. 1 on the RER 100.