Electro Rent’s Chief to Step Down After 35 Years

Daniel Greenberg will step down as the longtime chief of Electro Rent Corp. effective in July, it was announced Thursday. Greenberg has served as chief executive of the Van Nuys company, which rents electrical testing equipment, for more than 35 years. He joined the board in 1976 and will remain a member after he retires. “I have taken great pleasure in watching this company grow into one of the most well respected companies in our industry,” Greenberg said in a prepared statement. “It is now time to hand the reins over to those who can take the company to the next level.” Steven Markheim, president and chief operating officer, will become the new chief executive officer in July. He has been with the company for 35 years and in his current position since 2007. Other executive changes at Electro Rent include making Allen Sciarillo as permanent chief financial officer and lead director Karen Curtin as the non-executive chairman of the board. “We are happy that we will continue to benefit from Dan’s ongoing involvement as a board member, and are pleased to promote Steve and Allen to carry the company forward,” Curtin said in a prepared statement. She has served on the Electro Rent board since 2004. Shares closed down 14 cents, or 1.4 percent, to $10.22 on the Nasdaq.