CEO Hertz Corporation Leadership Changes Explained

The leadership changes at Hertz Corporation have been quite significant.

In 2014, John Tague was appointed as the CEO of Hertz Corporation, replacing Mark Frissora.

Under Tague's leadership, Hertz focused on improving its car rental operations and enhancing the customer experience.

Tague's tenure as CEO lasted until 2019, when Stephen Scherr took over as the new CEO.

Additional reading: What Is Hertz Company

Stephen M. Scherr was named as the new CEO of Hertz, taking over on February 28, 2022.

Scherr brings a wealth of experience to the role, having spent nearly three decades at Goldman Sachs, where he was the Chief Financial Officer.

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.

Scherr's experience in building business partnerships will be particularly valuable to Hertz as the company strengthens its relationships and alliances across a range of industries.

Greg O'Hara, Chairperson of Hertz's Board, praised Scherr's leadership skills, calling him a "proven strategist, innovator and leader with a track record of earning customer loyalty".

Mark Frissora, the previous CEO, stepped down from his role for personal reasons, and Brian P. MacDonald took over as interim CEO.

Hertz's board is planning a search process for a successor, which will consider both internal and external candidates.

Readers also liked: What Company Owns Hertz

The Hertz Corporation has been shifting its business model to focus more on car sharing and mobility services.

Under the leadership of CEO, Hertz has made significant investments in car sharing programs, such as Hertz On Demand and Hertz Car Share.

These programs allow customers to rent cars for short periods, reducing the need for car ownership.

Hertz has also been expanding its car sharing services into new markets, including Europe and Asia.

The company has also been exploring partnerships with ride-hailing services to offer more comprehensive mobility solutions.

Hertz has been working to reduce its carbon footprint by increasing the number of electric and hybrid vehicles in its fleet.

This shift in business strategy is a response to changing consumer behavior and the growing demand for sustainable transportation options.

For another approach, see: Gambia Postal Services Corporation

Hertz has a new CEO, Stephen M. Scherr, who will lead the company's transformation to deliver products and services that meet customers' evolving needs.

Scherr brings over 28 years of experience from Goldman Sachs, where he was Chief Financial Officer and helped build Marcus by Goldman Sachs and launched AppleCard.

He will focus on shared mobility, electrification, and a digital-first customer experience, combining Hertz's expertise in fleet management with new technology and innovation.

Hertz has appointed Stephen M. Scherr as its new CEO, effective February 28, 2022. He will lead the company and its global workforce of nearly 25,000.

Scherr comes from a background in finance and has spent nearly three decades at Goldman Sachs, where he was the Chief Financial Officer. He was also a principal architect and leader of the bank's new consumer business.

Scherr's experience in building business partnerships will be valuable to Hertz as it strengthens its relationships and alliances across various industries. He helped launch AppleCard and was involved in building Marcus by Goldman Sachs.

Hertz's Board believes Scherr is the right leader to grow the business and have a strong position in the future of mobility and fleet management.

Hertz Global has named Paul Stone as its new leader, bringing a wealth of experience in the automotive and hospitality industries to the role.

Paul Stone has a strong background in leadership, having previously served as the CEO of Avis Budget Group, a major competitor in the car rental industry.

He is tasked with leading the company's transformation and growth strategy, leveraging his expertise to drive innovation and improve customer satisfaction.

Stone's appointment is seen as a positive step for Hertz, given his experience in navigating the complexities of the automotive and hospitality sectors.

Hertz is a well-established company with a long history of providing car rental services to customers around the world.