EVANSTON, Ill. — Joseph Guillion, president, CEO and director of Evanston, Ill.-based National Equipment Services, has left “to pursue other interests,” company officials said.
Guillion's resignation has been expected for some time, according to sources close to the situation. Guillion joined NES in October 2002 to begin a turnaround effort that included the current debt restructuring under Chapter 11. The sources said Guillion's departure could speed up the restructuring process, which could be completed before the end of the year.
NES has retained Carl Marks Consulting Group, a turnaround and corporate revitalization firm that participated in restructuring efforts at companies such as Ryder Trucks and National Car Rental, to implement its reorganization. Duff Meyercord, a partner at Carl Marks, will serve as chief restructuring officer and Douglas Booth, a managing director at Carl Marks will serve as interim chief operating officer. A new CEO has not been named.
In other NES news, the company last month relocated its corporate offices to 8770 W. Bryn Mawr, 4th Floor, Chicago, IL 60631, effective immediately.
“This move will help to further reduce our fixed costs, provide us with a more suitable office space that is better utilized and keep us on track to emerge from bankruptcy later this year,” said Michael Milligan, chief financial officer.
NES is No. 5 on the RER 100 and has about 180 branches in 34 states and Canada.
