NationsRent Inc. has announced that D. Clark Ogle has been selected as its chief executive officer, subject to approval by the United States Bankruptcy Court for the District of Delaware. The company also announced that Philip V. Petrocelli, the interim CEO during the executive search process, will remain as president and chief operating officer.
Earlier this year, the company filed with the Bankruptcy Court a plan of reorganization and related disclosure statement, following the December 17, 2001 filing of a voluntary petition to restructure the Company’s debt under chapter 11 of the United States Bankruptcy Code.
Ogle, a veteran at restructurings, is credited with at least five similar successful turn-arounds, including, most recently, with Johnston Industries Inc., a textile company with annual revenues of approximately $300 million. Commencing in 1998, Ogle served as president and chief executive officer of Johnston Industries, which employs 2,200 people in 11 plants located in three states. 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.
From 1996 to 1998, Ogle was a managing director at KPMG Peat Marwick LLP, where he had been recruited to lead the national consulting recovery practice for the U.S. retail and wholesale food industry. Prior to joining KPMG, Ogle was president and chief executive officer of several large multi-operational companies, including WSR Corporation, the fifth largest retailer of automobile parts in the United States.
About NationsRent
Headquartered in Fort Lauderdale, FL, NationsRent is one of the country’s leading construction equipment rental companies and operates more than 235 locations in 26 states. NationsRent branded stores offer a broad range of high-quality construction equipment with a focus on enhanced customer service at affordable prices with convenient locations in major metropolitan markets throughout the U.S.
For more information on NationsRent is available on its home page at www.nationsrent.com.
