Chicago-based NES Rentals ended months of speculation last week by naming former United Airlines chief operating officer Andrew Studdert as its new CEO. Former CEO Joseph Guillion, who left the company last fall, had also come to the rental industry in October 2002 after a career in the airlines industry.
“[Studdert] is a dynamic and experienced leader with a diverse background that will greatly benefit NES as it grows,” said NES chairman John Neafsey. “His background and accomplishments in the transportation sector truly set him apart from his peers. The board is confident that Andy is the best of all possible candidates to lead NES at this time.”
Studdert served as COO of UAL Corp./United Airlines from 1999 to 2002, during which time he led United to its highest ratings in company history for on-time performance and customer service (in 2002), completed the company’s largest cost-reduction effort and guided the airline through the September 11 crisis. He also held the positions of chief information officer from 1995 to 1997 and senior vice president, fleet operations from 1997 to 1999.
Before joining United Airlines, Studdert established Andrew Studdert & Associates, a private information technology consultancy and served as executive vice president for First Interstate Bancorp, then the seventh largest bank in the United States.
Neafsey said Studdert’s operations background in technology, banking and finance makes him well suited for NES’ current needs. “As CIO of United, Studdert was responsible for significant upgrades of the systems infrastructure at the company, and he will be applying those operations skills to provide overall leadership to improving and enhancing NES’ system infrastructure. His banking background, particularly in accounting and finance, are also a good fit for NES,” which is completing a restructuring in large part caused by a large debt burden.
Studdert replaces interim CEO Duff Meyercord, an executive with the Carl Marks Consulting Group, which guided NES’ restructuring efforts. The company emerged from Chapter 11 bankruptcy in February.
Chicago-based NES Rentals is No. 5 on the RER 100.
