ESTERO, Fla., Feb. 4, 2022 /PRNewswire/ -- Hertz announced
today that it has named Stephen M. Scherr as Chief Executive
Officer to lead the iconic rental car company as it helps shape the
next era in global mobility and travel.
Scherr will lead Hertz and its global workforce of nearly 25,000
in its continued transformation to deliver products and services to
customers that meet their evolving needs. The company will execute
on its core priorities of shared mobility, electrification and a
digital-first customer experience by combining its expertise in
fleet management with new technology and a history of innovation.
In all, the Company's objective will be to drive growth and create
value for its stakeholders. Scherr will assume his role as CEO and
board member of Hertz on February 28,
2022.
"Hertz is an extraordinary brand and a resilient business that
is perfectly positioned to reshape how people move about in a safe,
convenient, affordable and more environmentally-friendly way," said
Scherr. "I am thrilled to join Hertz and lead the team as we put
our customers at the center of our business and partner with those
who believe in our vision for the future of mobility. We are
committed to giving our customers a world class experience
deserving of Hertz's storied 103-year history."
Scherr spent nearly three decades at Goldman Sachs leading a
range of strategic and operational functions, departing the firm as
Chief Financial Officer at the end of last year. He was a principal
architect and leader of the bank's new consumer business, helping
to build Marcus by Goldman Sachs and leading the launch of
AppleCard. In addition to his experience standing up a digital
consumer business, Scherr brings to Hertz deep experience in
building business partnerships, which will be particularly valuable
to Hertz as the company strengthens its relationships and alliances
across a range of industries.
"Stephen is the leader Hertz needs to grow our business and to
have a formidable position in the future of mobility and fleet
management," said Greg O'Hara, Chairperson of Hertz's Board
and founder and senior managing director at Certares. "He is a
proven strategist, innovator and leader with a track record of
earning customer loyalty."
"We have bold plans for Hertz over the long haul and we need a
leader who knows how to turn big ideas into reality while inspiring
people to work hard for change," said Tom
Wagner, Hertz board member and founder of Knighthead
Capital. "Stephen has the patience, tenacity and charisma needed to
push Hertz forward. We are certain that he will win the confidence
of our valued customers, our hard-working employees and the
company's investors."
O'Hara added: "We also want to thank Mark Fields for guiding Hertz over the past
several months as we successfully relisted and established the
foundation for the new Hertz. We look forward to continue working
with Mark as a director on our Board."
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
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 Registration Statement on Form S-1,
as filed with the Securities and Exchange Commission (the "SEC") on
November 3, 2021, our most recent
annual report on Form 10-K for the year ended December 31,
2020, as filed with the SEC on February 26, 2021, 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.
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SOURCE Hertz Global Holdings, Inc.