Frank Bardonaro Jr. has stepped down as president and CEO of AmQuip Crane Rental, Trevose, Pa. 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,” said Richard Bard, AmQuip’s chairman of the board and CEO of Bard Capital Group, an investor in AmQuip. “All issues previously directed to Frank Bardonaro will be handled by Al Bove, chief operating officer (COO), who joined AmQuip last December.”

Bove is an industry veteran, having been COO of General Crane’s operations in the Southwest and Western U.S. prior to joining AmQuip. He also previously serviced as CEO at Maxim Craneworks.

“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.”