McGrath Rentcorp (MGRC) CEO Kakures to Take Medical Leave
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- TD Ameritrade (AMTD) to Acquire Scottrade in $4B Cash & Stock Deal
- Oil prices under pressure as Iraq resists joining output cut
- China Oceanwide to Acquire Genworth Financial (GNW) for $2.7B
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
McGrath RentCorp (NASDAQ: MGRC) announced its President and CEO, Dennis C. Kakures, will be on medical leave of absence due to a stroke, effective immediately. At the present time, it is too soon to know the course and timing of Mr. Kakures’ recovery. In respect of Mr. Kakures’ privacy, no additional details or updates will be provided at this time.
The McGrath Board of Directors has established an Interim Office of the Chief Executive Officer (the “CEO Office”) during Mr. Kakures’ absence, which will report to the full Board of Directors. The CEO Office is comprised of Chairman of the Board, Ronald Zech; Director, Robert C. Hood; Director, Elizabeth A. Fetter; Chief Operating Officer, Joseph F. Hanna; and Chief Financial Officer, Keith E. Pratt.
“The Board of Directors is confident that our employees, including seasoned leaders of each division within the company, will seamlessly carry-on under the leadership of the CEO Office during Dennis’ absence,” said Chairman Zech. “We are fortunate to have within the CEO Office a group of dedicated and experienced management team and board members. Both Joe and Keith work closely with Dennis on day to day operations and have integral knowledge of the business and the people as they joined the company in 2003 and 2006, respectively. Moreover, the directors within the CEO Office will provide support and guidance as needed, drawing upon Director Hood’s tenure on the board during which the company underwent periods of growth, Director Fetter’s operational expertise as a former Chief Executive Officer and my 25 plus years on the company board and chief executive officer experience.”
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- ICON plc (ICLR) Appoints New Board Member
- Allstate (ALL), Mastercard (MA) Team on New Payment System
- Concordia International (CXRX) CEO to Step Down
Create E-mail Alert Related CategoriesHot Corp. News, Management Changes, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!