Mobile Mini says Chairman, President and CEO Steven Bunger will step down from those posts at the end of the year.
Lead independent director Michael Watts will become chairman once Bunger departs. Watts has served as a board member since 2002 and became lead director in 2005.
The company, which sells and rents moving and storage units and mobile offices, said Tuesday that it has created a search committee to help find Bunger’s successor as CEO, with both internal and external candidates being considered.
Bunger has worked at Mobile Mini since 1983 and served in various roles. He became president and CEO in 1997 and became chairman in 2001.
Heidrick & Struggles has been hired to assist with the search process for a new CEO.
Mobile Mini Inc., which is based in Tempe, Ariz., says a new CEO is expected to be in place when Bunger departs or shortly after that.
Bunger said in a statement that he will help the new CEO over several months to ensure a smooth transition.
Shares of Mobile Mini rose 7 cents to $17.40 in afternoon trading. Its shares have traded in a range of $12.60 in late June to $23.08 in late February.