SOURCE: Algeco Scotsman

June 22, 2010 13:16 ET

Algeco Scotsman Appoints Tim Stonesifer to Chief Financial Officer

Fortifies Global Leadership Base for Top Commercial Modular Solutions Provider

BALTIMORE, MD--(Marketwire - June 22, 2010) -  Algeco Scotsman, a leading global business services company focused on modular space and secure storage solutions, today announced the appointment of Tim Stonesifer, age 42, to the role of chief financial officer. Effective immediately, Stonesifer will assume responsibility for all financial operations for the international company, reporting to Algeco Scotsman's President and Chief Executive Officer Duncan Gillis.

"As markets continue to recover from the worldwide recession, we're committed to upgrading our processes and systems to further prepare for future growth," said Gillis. "Tim's broad experiences with multi-national business service operations make him an excellent complement to our senior management team." 

As CFO, Stonesifer will partner with operating unit leaders to deliver Algeco Scotsman's financial commitments and to further strengthen the international organization's financial capabilities across its 22 countries of operation. 

"I'm excited to build upon the excellent foundation set forth by the existing leadership team," said Stonesifer. "At this juncture, my efforts will focus on moving the company forward and executing against the company's long-term strategic plan."

Prior to joining Algeco Scotsman, Stonesifer was the CFO of SABIC Innovative Plastics, a leading provider of engineering thermoplastics with operations in more than 35 countries. At SABIC, formerly GE Plastics, he helped lead the successful divestiture of the global USD $7 billion business by GE in 2007, and remained as CFO after the close of that transaction. Prior to SABIC, Stonesifer held positions of increasing responsibility within GE including CFO of GE Equipment Services in Europe, CFO of GE Insurance, and vice-president of financial planning and analysis for GE Structured Finance Group. 

Stonesifer holds a Bachelor of Arts degree in economics from the University of Michigan. 

About Algeco Scotsman
Algeco Scotsman is a leading global business services provider focused on modular space and storage solutions. Operating as Williams Scotsman in North America and Algeco in Europe, the company manages a fleet of more than 300,000 units, with operations in Belgium, Canada, China, Czech Republic, Estonia, Finland, France, Germany, Italy, Lithuania, Luxembourg, Mexico, Netherlands, Poland, Portugal, Romania, Russia, Slovakia, Spain, Sweden, United Arab Emirates, United Kingdom and United States. The company's reputation is grounded in exceptional customer service, effective management of business operations, and consistent product innovation. Algeco Scotsman's global presence combined with its local market expertise provides exemplary service tailored to meet the unique needs of customers throughout the world.