United Rentals announced June 21 that Ronald DeFeo, chairman and chief executive of Terex, has resigned from the company’s board of directors. DeFeo said that because Terex is a major supplier to United Rentals, he was resigning to avoid potential conflicts of interest. Bradley Jacobs, chairman of United Rentals, thanked DeFeo for his eight years of service as a director. The United Rentals board now has 12 members, two-thirds of whom are
classified as independent based on New York Stock Exchange criteria.
Terex head resigns from United Rentals board
Jun 27, 2005