WillScot Announces Appointment of Worthing Jackman to Board of Directors

Rhea-AI Summary

WillScot Holdings (Nasdaq: WSC) has announced the appointment of Worthing Jackman to its Board of Directors, effective October 22, 2024. This appointment is part of the company's ongoing board refreshment efforts, aimed at enhancing and diversifying skills, expertise, and knowledge. Mr. Jackman, described as a seasoned leader with a proven track record of long-term growth and shareholder value creation, brings extensive operational expertise and capital markets leadership to the board.

Erik Olsson, Chairman of WillScot, and Brad Soultz, CEO, both expressed their enthusiasm for Mr. Jackman's appointment, highlighting his diversified leadership experience and expertise in strategy, finance, and organizational development within the industrial services sector. Mr. Jackman will serve as a member of the Audit Committee, further supporting WillScot's efforts to drive profitable growth and enhance stakeholder value.

Positive

• Appointment of experienced industry executive Worthing Jackman to the Board of Directors
• Enhancement of board expertise in strategy, finance, and organizational development
• Potential for improved financial and operational performance through new leadership insights

Negative

• None.

Board Enhances Expertise with Appointment of Seasoned Industry Executive

PHOENIX, Oct. 22, 2024 (GLOBE NEWSWIRE) -- WillScot Holdings Corporation (“WillScot” or the “Company”) (Nasdaq: WSC), a leader in innovative flexible space and storage solutions, today announced the appointment of Worthing Jackman to the WillScot Board of Directors, effective October 22, 2024.

Erik Olsson, Chairman of WillScot, commented, “We are pleased to welcome Worthing Jackman to the WillScot Board, as part of our Board’s ongoing refreshment efforts. Mr. Jackman’s appointment demonstrates our commitment to enhancing and diversifying skills, expertise, and knowledge as WillScot continues to execute its growth strategy and enhance its financial and operational performance. He is a seasoned leader with a proven track record of long-term growth, execution and shareholder value creation, bringing extensive operational expertise and capital markets leadership.”

Brad Soultz, Chief Executive Officer of WillScot, commented, “Worthing brings a diversified leadership experience, having held a number of key roles where he was instrumental in shaping financial and operational strategies within the industrial services sector. He brings to the Board a combination of leadership experience in strategy, finance, and organizational development, which will further support WillScot as we continue to drive profitable growth and enhance value for our stakeholders.”

Mr. Jackman will serve as a member of the Audit Committee.

About Worthing Jackman

Mr. Jackman, age 60, served as CEO and a Director of Waste Connections (NYSE/TSX: WCN), one of the largest integrated solid waste services companies in the United States and Canada, from July 2019 until April 2023, and as President from July 2018 to April 2023. He previously served as its CFO from September 2004 until July 2018 and as VP – Finance and Investor Relations from April 2003 until August 2004. From 1991 until April 2003, Mr. Jackman held various investment banking positions with Alex. Brown & Sons, now Deutsche Bank Securities, Inc., including most recently as a Managing Director within the Global Industrial and Environmental Services Group. Mr. Jackman has served as a Director of Quanta Services (NYSE: PWR), a leading provider of specialized infrastructure solutions to the utility, renewable energy, technology, communications, pipeline and energy industries, since May 2005. Mr. Jackman has diversified leadership experience in businesses that share important characteristics with WillScot, and his appointment adds another Qualified Financial Expert to our Audit Committee. He holds a B.S. degree in Finance from Syracuse University and an M.B.A. from the Harvard Business School.

About WillScot

Listed on the Nasdaq stock exchange under the ticker symbol “WSC,” WillScot is the premier provider of highly innovative and turnkey space solutions in North America. The Company’s comprehensive range of products includes modular office complexes, mobile offices, classrooms, temporary restrooms, portable storage containers, protective buildings and climate-controlled units, and clearspan structures, as well as a curated selection of furnishings, appliances, and other supplementary services, ensuring turnkey solutions for its customers. Headquartered in Phoenix, Arizona, and operating from a network of approximately 260 branch locations and additional drop lots across the United States, Canada, and Mexico, WillScot’s business services are essential for diverse customer segments spanning all sectors of the economy.

Forward-Looking Statements

This press release contains forward-looking statements (including the guidance/outlook contained herein) within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. The words "estimates," "expects," "anticipates," "believes," "forecasts," "plans," "intends," "may," "will," "should," "shall," "outlook," "guidance," "see," "have confidence" and variations of these words and similar expressions identify forward-looking statements, which are generally not historical in nature. Certain of these forward-looking statements include statements relating to: our mergers and acquisitions pipeline, acceleration of our run rate, acceleration toward and the timing of our achievement of our three to five year milestones, growth and acceleration of cash flow, driving higher returns on invested capital, and Adjusted EBITDA margin expansion. Forward-looking statements are subject to a number of risks, uncertainties, assumptions and other important factors, many of which are outside our control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Although the Company believes that these forward-looking statements are based on reasonable assumptions, they are predictions and we can give no assurance that any such forward-looking statement will materialize. Important factors that may affect actual results or outcomes include, among others, our ability to acquire and integrate new assets and operations; our ability to judge the demand outlook; our ability to achieve planned synergies related to acquisitions; our ability to successfully execute our growth strategy, manage growth and execute our business plan; our estimates of the size of the markets for our products; the rate and degree of market acceptance of our products; the success of other competing modular space and portable storage solutions that exist or may become available; rising costs and inflationary pressures adversely affecting our profitability; potential litigation involving our Company; general economic and market conditions impacting demand for our products and services and our ability to benefit from an inflationary environment; our ability to maintain an effective system of internal controls; and such other risks and uncertainties described in the periodic reports we file with the SEC from time to time (including our Form 10-K for the year ended December 31, 2023), which are available through the SEC’s EDGAR system at www.sec.gov and on our website. Any forward-looking statement speaks only at the date on which it is made, and the Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Additional Information and Where to Find It

Additional information can be found on the company's website at www.willscot.com.

Contact Information
Investor Inquiries:		Media Inquiries:
Nick Girardi		Jake Saylor
investors@willscot.com		jake.saylor@willscot.com

FAQ

When does Worthing Jackman join WillScot's Board of Directors?

Worthing Jackman joins WillScot's Board of Directors effective October 22, 2024.

What committee will Worthing Jackman serve on at WillScot (WSC)?

Worthing Jackman will serve as a member of the Audit Committee at WillScot.

Why did WillScot (WSC) appoint Worthing Jackman to its Board?

WillScot appointed Worthing Jackman to enhance and diversify the Board's skills, expertise, and knowledge as part of their ongoing board refreshment efforts and to support the company's growth strategy.

What experience does Worthing Jackman bring to WillScot's (WSC) Board?

Worthing Jackman brings extensive operational expertise, capital markets leadership, and experience in strategy, finance, and organizational development within the industrial services sector.