Nicholas Matthews has been named president and CEO of Essex Rental Corp., based in Buffalo Grove, IL. Matthews was previously the company's chief operating officer. He will also serve as a director on the Essex board.
"After an extensive search, we are confident that Nick is the right individual to lead the company given his proven experience at Essex and his keen focus on driving return on invested capital that he gained from his prior executive positions," said Laurence Levy, chairman of the board.
Since joining Essex about nine months ago, Matthews has led a number of long-term key strategic initiatives to strengthen the company and enhance value for all Essex stakeholders, according to a press release. Those initiatives include leading the decision to sell surplus equipment through the sealed bid auction sale process; refining the company's go-to-market strategy relating to its parts and service segment; designing operational improvements focused on increasing utilization; and developing a more customer-centric, service-oriented culture throughout the company.
"I am extremely honored to take the helm and lead Essex, a company with a strong market position, extensive asset portfolio and even greater prospects for the future. I am focused on operational excellence and financial discipline in order to reposition the company for success," Matthews said. "I am committed to driving success for the company by diversifying our products and services, repositioning the fleet by divesting underutilized rental assets and creating a differentiated value proposition for our customers. I am confident that we will create long-term value for our shareholders, employees and other stakeholders."