Michael J. Kneeland is known for his hands-on leadership style at United Rentals, Inc., the largest equipment rental company in the world. He decided to cut his own salary by 20% in 2009, showing his commitment to share the burden...
Michael J. Kneeland is known for his hands-on leadership style at United Rentals, Inc., the largest equipment rental company in the world. He decided to cut his own salary by 20% in 2009, showing his commitment to share the burden during tough economic times. Kneeland doesn’t just lead; he leads by example, pushing for cost reductions while ensuring his team feels supported. Under his tenure from 2007 to 2019, he aligned compensation with performance, earning over $13 million in 2018 mainly from stock awards and performance bonuses. This was a big leap from his base salary of $1 million that same year. He retired as CEO in May 2019 but still advises as the non-executive chairman, earning a healthy $500,000 annually without equity grants. His strategy focused on boosting EBITDA and Economic Profit, making sure the company aligns with shareholder interests. Kneeland's move to link his pay to company performance shows he understands that success relies on teamwork. He built a robust culture within United Rentals, enhancing its reputation in the equipment rental market, which now boasts a fleet worth $21 billion.