Transportation veteran to focus on
operationally-driven revenue and EBITDA growth
ESTERO,
Fla., March 15, 2024 /PRNewswire/ -- Hertz
Global Holdings, Inc. (NASDAQ: HTZ), a leading global rental car
company, today announced that Gil
West, former Chief Operating Officer of Delta Airlines and
GM's Cruise unit, will become Chief Executive Officer effective
April 1, 2024, at which time he will
join the Board. West will succeed Stephen
Scherr, who has decided to step down as Chief Executive
Officer and member of the Board of Directors on March 31, 2024. West and Scherr will work
together over the next several weeks to ensure a smooth
transition.
"We are thrilled to have Gil join Hertz as Chief Executive
Officer," said Tom Wagner, Vice
Chair of the Hertz Board of Directors. "Gil's experience as a
successful leader in operationally intensive businesses will
further strengthen the Company's world class team of over 27,000
global employees who work tirelessly to deliver outstanding service
to customers daily. We are appreciative of Stephen's contribution
over the last two years, including on a number of key strategic
initiatives, which Gil will now lead in their continued
execution."
"I am excited to join Hertz and build on its extraordinary
family of brands and global network," said West. "With a 106-year
history, Hertz enjoys incredible brand strength and customer
loyalty and I look forward to working with the team to achieve its
potential for our customers, team members and shareholders."
"Gil's success in leading over 70,000 people at Delta and
orchestrating highly effective operational turnarounds will
position him well to lead Hertz. He will be able to build upon the
strategic projects begun during Stephen's tenure, including
improvements to technology, commercial partnerships and the
revitalization of our value brands. Gil's prior experience in
transportation, travel and mobility will give him important
perspective on how to thoughtfully lead Hertz into the future,"
said Colin Farmer, Lead Director of
the Hertz Board of Directors.
"Over the last two years, the Hertz team has worked diligently
to put the company on track for long-term success in a changing
automotive landscape," said Scherr. "Hertz is well-positioned for
the future, and I look forward to seeing the company execute on its
strategy as a leader in mobility."
ABOUT HERTZ
The Hertz Corporation, a subsidiary of Hertz Global
Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle
rental brands throughout North America, Europe,
the Caribbean, Latin America, Africa,
the Middle East, Asia, Australia and New
Zealand. The Hertz Corporation is one of the largest
worldwide vehicle rental companies, and the Hertz brand is one of
the most recognized globally. Additionally, The Hertz
Corporation owns and operates the Firefly vehicle rental brand
and Hertz 24/7 car sharing business in international
markets and sells vehicles through Hertz Car Sales. For more
information about The Hertz Corporation,
visit www.hertz.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within
the meaning of the federal securities laws. Words such as "expect",
"will" and "intend" and similar expressions identify
forward-looking statements, which include but are not limited to
statements related to our positioning, strategy, vision, forward
looking investments, conditions in the travel industry and our
financial and operational condition. We caution you that these
statements are not guarantees of future performance and are subject
to numerous evolving risks and uncertainties that we may not be
able to accurately predict or assess, including those in our risk
factors that we identify in our most recent annual report on Form
10-K for the year ended December 31,
2023, as filed with the SEC on February 12, 2024, and any updates thereto in the
Company's quarterly reports on Form 10-Q and current reports on
Form 8-K. We caution you not to place undue reliance on our
forward-looking statements, which speak only as of their date, and
we undertake no obligation to update this information.
Contact
Mediarelations@hertz.com
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SOURCE Hertz Global Holdings, Inc.
