29 May 2015, 11:19
Larry H. Silber, who helped expand Ingersoll Rand’s equipment rental business, has been appointed president and chief executive officer of Hertz Equipment Rental Corp.
“HERC is one of the world’s leading equipment rental businesses, and we are confident that Larry’s leadership and experience, as well as his reputation as a great operator, will re-energize HERC’s performance on the topline and importantly in dollar value utilization, which is a key performance driver for this industry,” said John Tague, president and CEO of Hertz Global Holdings Inc.
Silber replaces Brian McDonald, who stepped down. Hertz intends to separate its equipment and car rental businesses into two publicly traded companies.
“It’s an honor to join the Hertz team at this critical time in HERC’s history as it prepares for a future as an independent company,” Silber said. “I have long been associated with HERC and am excited to be joining the premier global equipment rental company. We will position HERC for stronger, more diversified growth with the most efficient cost structure possible. HERC’s customers and investors should be confident that the company will be a long-term competitive and reliable force in the market.”
Silber worked at Ingersoll Rand, based in Dublin, Ireland, from 1978 to 2008, leading a number of the company’s business groups including utility equipment, rental and re-marketing and the equipment and services businesses. He also led sales, marketing and operations in the company’s power tool division and construction and mining group. He also was chairman and CEO of Ingersoll Rand Canada Inc.
From 2008 to 2012, Silber was chief operating officer of Elizabeth, New Jersey-based Hayward Industries, a swimming pool equipment manufacturer.
In 2013, he was interim president and CEO of Markham, Ontario-based SMTC Corp., which provides electronics manufacturing services.
Silber was an executive adviser at Court Square Capital Partners in 2014.
HERC has more than 350 locations worldwide.