AmQuip Crane Rental LLC Aug. 24 announced that Frank Bardonaro Jr. has stepped down as president and CEO of the company. He will maintain his relationship with AmQuip through a newly-created board position, and he will retain his shareholdings in the company.

It will be “business as usual at AmQuip,” commented Richard Bard, AmQuip’s board chairman (and CEO of Bard Capital Group, an investor in the company). “All issues previously directed to Frank Bardonaro will be handled by Al Bove, COO, who joined AmQuip last December,” he added.

Bove is an industry veteran, having been COO of General Crane’s operations in the southwest and western United States prior to joining AmQuip. He was the CEO at Maxim Craneworks at an earlier time in his career.

“We thank Frank for taking us through this transition since our acquisition in 2007,” said Yuki Narula, a director of AmQuip who represents the largest shareholder, Altpoint Capital Partners. “Our board is committed to providing the resources and leadership necessary to take advantage of the economic upturn over the next several years,” he added.

“I feel good about the performance of AmQuip, our team, and the leading position AmQuip continues to have in its markets,” said Bardonaro. “This change will allow me to move on with my career and personal goals, knowing that Al Bove is on board to continue with senior leadership at the company.”