COLORADO SPRINGS, Colo. — Alert Management Systems, a leading developer of software for the equipment rental business, recently announced that William (Bill) Veneris, its founding chairman, has retired from day-to-day executive management.

Although Alert is a privately held company and is not obligated to release financial information to the public, the company said the terms of the voluntary agreement included sale of all company stock to current shareholders. The agreement also specifies terms under which Veneris may continue as a voting member of Alert's board of directors, attend its annual user's association meetings, and make other contributions in the areas of consulting, training and maintaining client relationships through 2008.

Veneris plans to take advantage of his well-known talents as an educator and expert in the rental business. He won the American Rental Association Special Service Award in 1995. He has been a regular columnist for industry trade publications such as RER, and he was elected ARA Region 7 Person of the Year in 1993 for his positive contributions to the rental industry.