MARK IRION NAMED CHIEF EXECUTIVE OFFICER OF TNT CRANE & RIGGING

Rhea-AI Summary

TNT Crane & Rigging has appointed Mark Irion as its new CEO, effective immediately, succeeding Mike Appling, who will assist with the transition until April 30, 2023. Irion, who has extensive experience in the equipment rental industry, previously served as CFO at Herc Holdings since June 2018. He has been a director on TNT's Board since June 2020. The Board expressed confidence in Irion's vision for growth and his deep understanding of the company. TNT, headquartered in Houston, TX, is the largest open-shop crane services platform in North America, operating over 40 branches and serving more than 4,000 customers.

Positive

• Appointment of Mark Irion as new CEO signals leadership continuity.
• Irion's 25 years of industry experience may enhance operational efficiency.
• TNT has a strong market position, being the largest crane services platform in North America.

Negative

• None.

HOUSTON, March 30, 2023 /PRNewswire/ -- TNT Crane & Rigging LLC (TNT), the largest open-shop crane services platform in North America, today announced that its Board of Directors has appointed Mark Irion as its new Chief Executive Officer, effective immediately. Irion succeeds Mike Appling, who has served as TNT's CEO since 2007. Appling will remain at the Company until April 30, 2023 to ensure a smooth transition and will step down from the Board of Directors at that time.

Irion, a seasoned executive with nearly 25 years in the equipment rental industry, will also continue as a director on TNT's Board, where he has served since June 2020. He most recently served as Chief Financial Officer of Herc Holdings, where he was recognized for helping to drive strategies that improved fleet efficiencies and accelerated strategic M&A activity.

"Mark is an accomplished leader with the right vision and capabilities to lead TNT's next chapter of growth and success," said David E. Fanta, Chairman of TNT's Board of Directors. "He brings extensive industry knowledge and deep financial acumen to the Company. Having served on our Board for nearly three years, he already has a strong understanding of TNT's business, strategy, culture and opportunities. We look forward to continuing to work closely with Mark to execute TNT's plans to accelerate profitable growth."

Irion said, "I am excited to take on this role and to lead TNT forward as we continue to deliver superior customer service with our unparalleled expertise and capabilities. What has always stood out at TNT is our culture that puts people first. That is reflected in strong, multi-year customer relationships and an industry-leading safety record in successfully executing mission-critical work. It is an honor to lead this company and I can't wait to get started."  

Fanta continued, "Mike leaves a tremendous legacy at TNT. He helped build the Company through more than a dozen acquisitions as well as strong organic growth. On behalf of the entire Board, I want to thank Mike for his many contributions to TNT over the years and wish him the very best in the future."

Irion served as Chief Financial Officer for Herc Holdings (NYSE: HRI) since June 2018. The company operates through Herc Rentals Inc. as a leading equipment rental supplier throughout North America. Previously, Irion spent 19 years as Chief Financial Officer of Neff Corporation, a publicly traded equipment rental company. Earlier in his career, he was a finance executive for a computer component distribution company and a senior auditor for Deloitte & Touche LLP.

About TNT Crane & Rigging LLC
Headquartered in Houston, TX and founded in 1985, TNT is the largest open-shop crane services platform in North America with leadership positions in core maintenance end markets and geographies. The Company operates through more than 40 branches spanning the Gulf Coast, Rockies, and Southeast regions of the U.S., along with Western Canada. TNT's fleet of 700+ cranes, predominantly mobile cranes, which are operated by a workforce of 1,500+ skilled employees. TNT serves over 4,000 customers who predominantly operate in the downstream, commercial, power and infrastructure end markets.

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SOURCE TNT Crane & Rigging, Inc.

FAQ

Who is the new CEO of TNT Crane & Rigging?

Mark Irion has been appointed as the new CEO of TNT Crane & Rigging.

When did Mark Irion start as CEO of TNT Crane & Rigging?

Mark Irion became CEO of TNT Crane & Rigging effective immediately on March 30, 2023.

What is Mark Irion's experience in the industry?

Mark Irion has nearly 25 years of experience in the equipment rental industry, having previously served as CFO of Herc Holdings.

What position did Mike Appling hold at TNT Crane & Rigging?

Mike Appling served as CEO of TNT Crane & Rigging since 2007 until March 30, 2023.

How many customers does TNT Crane & Rigging serve?

TNT Crane & Rigging serves over 4,000 customers across various sectors.