Hertz names former Goldman Sachs exec as new CEO


ESTERO, Fla. – 

Hertz will have a new chief executive officer at the end of the month.

The rental car company named to former Goldman Sachs executive Stephen Scherr to the CEO role on Friday.

Scherr, who spent close to three decades at Goldman Sachs and left his role as chief financial officer at the end of 2021, will officially take on the Hertz CEO post on Feb. 28.

Former Ford Motor Co. president and CEO Mark Fields has been interim CEO at Hertz since October.

“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,” Scherr said in a news release.

“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 storied 103-year history.”

Greg O’Hara, who is board chair at Hertz and senior managing director at Cetares, said: “Stephen is the leader Hertz needs to grow our business and to have a formidable position in the future of mobility and fleet management. He is a proven strategist, innovator and leader with a track record of earning customer loyalty.”

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.”

Source : AutoFinanceNews