After and eventful year HSS Hire, the largest tool rental company in the UK, have made some great changes, parting ways with their CFO and deputy chairman.

The board will now start planning to appoint a permanent CFO “in due course”.

Chairman Alan Peterson said Trowbridge had made a “significant contribution” to the group, but hailed Bailey’s “extensive business and operational experience”.

“I am pleased to welcome Steve Bailey to HSS and believe that his extensive business and operational experience will be valuable to the Group.

“I would like to thank Steve Trowbridge for the significant contribution he has made to the Group over the last seven years and we wish him every success in the future.”

The financial truth

HSS issued not one but two profit warnings after a flotation at the beginning of the year, displaying an uncertainty in future profits. In a mission to return to a state of business flourishment Steve Bailey has been hired as interim chief financial officer, aiming to steer the tool hire company into a direction of success.

Having worked for the likes of HJ Heinz Company Limited and Guoman & Thistle Hotels he certainly boasts the background knowledge to help HSS Hire regain financial stability

The value of the business

Shares in HSS Hire infamously plummeted from their 210p float price to under 50p last November. Shares are now up 2.2% to 81.75p as confirmed on Wednesday.

Let us know what you think, does this change scream our danger or a success story to come.

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Abbey is one of the Editors for Anything for Hire News, she knows everything about the hire industry (god knows why!).