Wayland R. Hicks served as the CEO of United Rentals, Inc. until June 2007. He opted for no bonus in his final year as a leader, receiving a one-time retirement payment of $2.45 million instead. This payout reflected his dedication...
Wayland R. Hicks served as the CEO of United Rentals, Inc. until June 2007. He opted for no bonus in his final year as a leader, receiving a one-time retirement payment of $2.45 million instead. This payout reflected his dedication to the company during complex changes that year. Despite retiring mid-year, Hicks had previously earned a substantial bonus of over $3.84 million in 2006, showcasing how he linked his compensation to the company's performance. Hicks also faced tough choices during his transition, forfeiting over 200,000 unvested restricted stock units when he left. However, he received a new equity award of 133,334 restricted stock units, contingent on a change in control of the company before the end of 2007. Hicks' tenure at United Rentals was marked by strategic shifts and his capability to navigate through a challenging environment, steering the world's largest equipment rental company toward future growth.