WillScot Holdings announces board changes ahead of annual meeting

PHOENIX, AZ – WillScot Holdings Corp (NASDAQ:WSC), a $5.4 billion equipment rental and leasing services company with impressive gross profit margins of 54%, has reported significant changes to its board of directors in a recent filing with the Securities and Exchange Commission. According to InvestingPro data, the company has maintained strong profitability despite recent market challenges.

Erik Olsson, the non-executive Chairman of WillScot’s Board, has decided not to seek reelection at the upcoming 2025 Annual Meeting of Stockholders. This decision, made on March 23, 2025, was not due to any disagreements with the company’s practices or policies.

In preparation for Olsson’s departure, the Board has unanimously voted to appoint Worthing Jackman as the new Chairman, contingent on his reelection as a director at the same meeting. Jackman brings extensive experience to the role, having previously served as CEO and President of Waste Connections (NYSE:WCN) until April 2023, and currently serving as a director of Quanta Services (NYSE:PWR) since May 2005.

Additionally, the Board has approved the nomination of Dominick Zarcone to stand for election as a director at the 2025 Annual Meeting. Zarcone’s background includes serving as President & CEO of LKQ (NASDAQ:LKQ) Corporation until June 2024, and various leadership roles at Baird Financial Group. He is also a board member of Generac Holdings (NYSE:GNRC), Inc. and Chairman of Meko AB.

These board nominations reflect WillScot’s commitment to leadership with a depth of experience and financial expertise. The company, headquartered in Phoenix, Arizona, operates under the SIC category of Miscellaneous Equipment Rental & Leasing Services.

This announcement is based on a press release statement and provides shareholders and the market with the latest developments in WillScot’s governance structure as the company approaches its annual meeting.

In other recent news, WillScot Holdings Corporation has made significant financial moves by issuing $500 million in senior secured notes due 2030 through its subsidiary, Williams Scotsman, Inc. The proceeds from this issuance are intended to redeem the company’s existing 6.125% senior secured notes due 2025, which amount to $526.5 million. This strategic maneuver aims to optimize the company’s debt structure and reduce future interest expenses. Additionally, WillScot has secured consent from holders of its senior secured notes for proposed amendments to its indentures, with more than two-thirds of holders agreeing to the changes. The company will pay $500,000 in aggregate cash consideration to these consenting note holders. Moreover, WillScot has announced changes to its board of directors, appointing Worthing Jackman as the new Chairman and nominating Dominick Zarcone for election as a director. These developments indicate a period of strategic financial and leadership restructuring for the company.

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