Hertz Global Holdings, Inc. announced the appointment of Mark Fields as interim CEO effective immediately. The company is also appointing a new board of directors and has initiated a search for a permanent replacement.
Mark Fields is the new interim CEO of Hertz. He has been working as a senior executive at the company since 2008 and was previously president of global sales operations.
WHY IT RATES: The automobile rental behemoth announced the appointment of a new temporary CEO and president. — Donald Wood is a senior writer at Breaking News.
Hertz appointed Mark Fields as interim CEO and Paul Stone as president and chief operating officer today, as the business continues to invest in the future of mobility and travel.
The changes are part of a vision for a brand-new Hertz that blends the legendary company’s brand power and worldwide fleet management experience with new technology and innovations to set a dynamic, new path for travel, mobility, and the auto industry.
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“It’s an extremely exciting moment for Hertz, and we couldn’t be happier to have Mark’s leadership, first as a Board director and now as interim CEO,” said Greg O’Hara, Certares’ founder and senior managing director and Hertz’s chairman of the Board. “Mark’s vast experience in the automotive and technology industries will be invaluable as we reimagine Hertz for the future. We’re reimagining the future from a fresh position of strength, and Mark’s continuing leadership on the Board and temporary appointment as interim CEO are critical next steps in that direction.”
In June, Fields became a member of Hertz’s Board of Directors. He is also a senior adviser at TPG Capital and the former president and CEO of Ford Motor Company, where he spent 28 years. He is also Tanium’s Lead Independent Director and a member of Qualcomm’s Board of Directors.
Fields, who will work closely with the Board to implement the company’s strategic vision and will bring his experience as a public company CEO to bear as he leads Hertz’s interactions with the investment community, said, “Hertz is a global icon, and I’m honored to help lead the company into its next 100 years.” “Hertz’s unrivaled worldwide reach will be coupled with forward-thinking investments that will fundamentally transform the way people travel and move. In the next weeks and months, the world will hear a lot from Hertz.”
Stone, who was formerly the CEO of Hertz, will join the business as president and chief operations officer. He’ll make sure that operations and customer service are prioritized.
“Paul’s contribution to the business throughout the restructuring process is greatly appreciated by the Hertz Board,” stated O’Hara. “We were ecstatic when Paul chose to stay on at Hertz in a high leadership position.”
As travel recovers and as a consequence of the company’s operational and financial improvements, Hertz has reorganized its operations and achieved excellent financial performance.
SOURCE: A news release from Hertz.
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