McGrath RentCorp Names Philip Hawkins CEO as Joseph Hanna Retires

Hawkins, who assumed the role of Chief Operating Officer in January 2025, brings extensive internal experience to the top post. Before stepping into the COO role, he managed several of the company’s key business units, including Enviroplex and Kitchens to Go. His leadership background also includes a tenure as division manager for TRS-RenTelco, McGrath’s specialized electronic test equipment subsidiary.

Executive Compensation and Transition

As part of his appointment, Hawkins will receive a base salary of $700,000, according to company filings. His compensation package includes a performance-based bonus target equal to 100% of his base pay and an equity grant of company shares valued at $2.5 million. While stepping down from day-to-day operations, Hanna will maintain a presence at the firm by continuing to serve on the board of directors.

Hanna’s retirement follows a career with the firm that began in 2003. During his final full year as CEO in 2024, his total compensation reached $5.48 million, as reported in the company’s most recent annual filing. The leadership change comes as the California-based company continues to scale its modular building and industrial rental operations.