Leading global rental car company Hertz Global Holdings announced that Gil West, former Chief Operating Officer of Delta Airlines and GM’s Cruise unit, will become CEO effective April 1, 2024, when he will join the Board. West will succeed Stephen Scherr, who decided to step down as CEO and member of the Board of Directors on March 31, 2024. West and Scherr will work together to make the transition smooth.
Prior to joining Hertz, Scherr was a CFO at Goldman Sachs. Scherr joined Hertz in February 2022, which was about seven months after the company emerged from Chapter 11 bankruptcy. Earlier this year, Hertz strategically decided to sell about 20,000 electric vehicles (EVs) from its U.S. fleet. The dispositions started in December 2023 and are expected to continue in an orderly fashion through this year. To meet customer demand, Hertz plans to reinvest a portion of the proceeds from the sale of EVs into the purchase of internal combustion engine (ICE) vehicles.
The Hertz Corporation operates the Hertz, Dollar, and Thrifty vehicle rental brands in North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia, and New Zealand, making it one of the largest worldwide vehicle rental companies. It also 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.
KEY QUOTES:
“We are thrilled to have Gil join Hertz as Chief Executive Officer. 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.”
- Tom Wagner, Vice Chair of the Hertz Board of Directors
“I am excited to join Hertz and build on its extraordinary family of brands and global network. 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 West
“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.”
- 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. Hertz is well-positioned for the future, and I look forward to seeing the company execute on its strategy as a leader in mobility.”
- Stephen Scherr
