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Stephen Scherr Named Chief Executive Officer at Hertz

February 4, 2022 By CollisionWeek Editor

Hertz announced today that it has named Stephen M. Scherr as Chief Executive Officer to lead the 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 […]

Filed Under: News Tagged With: Goldman Sachs, Hertz, People

Hertz Global Holdings Reports Revenues of $2.2 billion

October 29, 2021 By CollisionWeek Editor

Hertz Global Holdings, Inc. (OTCPK: HTZZ; OTCPK: HTZZW) announced for the third quarter 2021, the Company generated total revenues of $2.2 billion, reflecting the continued rebound in leisure travel and tight fleet inventory as Hertz executes against its strategic roadmap. While volume continued to be lower compared to 2019 levels, these headwinds were partially mitigated […]

Filed Under: News Tagged With: Earnings, Hertz

Hertz Names Former Ford CEO Mark Fields as Interim CEO

October 5, 2021 By CollisionWeek Editor

Paul Stone to serve as President and Chief Operations Officer. Hertz announced today it has named Mark Fields as interim CEO and Paul Stone as president and chief operations officer, as the company accelerates its commitment to lead the future of mobility and travel. The moves, effective immediately, are part of a vision for an […]

Filed Under: News Tagged With: Hertz, People

Hertz Exits Chapter 11

July 1, 2021 By CollisionWeek Editor

Hertz Global Holdings, Inc. (OTCPK:HTZGQ) announced yesterday that it has successfully completed its Chapter 11 restructuring process and has emerged as a financially and operationally stronger company that is well-positioned for the future. Hertz’s Plan of Reorganization was confirmed by the Bankruptcy Court on June 10, 2021. In doing so, Judge Mary Walrath described the […]

Filed Under: News Tagged With: Hertz

Hertz’s Reorganization Plan Confirmed by Bankruptcy Court

June 11, 2021 By CollisionWeek Editor

Hertz Global Holdings, Inc. (OTCPK:HTZGQ) announced that the Bankruptcy Court confirmed the Company’s Plan of Reorganization. The Plan unimpairs all classes of creditors (who are legally deemed to have accepted it) and was approved by more than 97% of voting shareholders. The Court’s approval clears the way for Hertz to emerge from Chapter 11 by […]

Filed Under: News Tagged With: Hertz

Hertz Selects $6 Billion Bid From Knighthead, Certares And Apollo To Fund Chapter 11 Exit

May 13, 2021 By CollisionWeek Editor

Hertz Global Holdings, Inc. (OTCPK:HTZGQ) announced that, following the completion of the auction previously approved by the Court in its Chapter 11 case, Hertz has selected and approved a revised proposal from certain funds and accounts managed by affiliates of each of Knighthead Capital Management LLC , Certares Opportunities LLC and Apollo Capital Management, LP, […]

Filed Under: News Tagged With: Hertz

Hertz Selects Equity Sponsor for Chapter 11 Exit

April 7, 2021 By CollisionWeek Editor

Hertz Global Holdings, Inc. (OTCPK:HTZGQ) announced April 3 that it has selected an enhanced proposal from Centerbridge Partners, L.P., Warburg Pincus LLC, and Dundon Capital Partners, LLC to provide the equity capital required to fund Hertz’s exit from Chapter 11, keeping the Company on track to conclude its Chapter 11 case in June 2021. Hertz […]

Filed Under: News Tagged With: Hertz

Hertz Completes Sale Donlen Corporation

March 30, 2021 By CollisionWeek Editor

Hertz Global Holdings, Inc. (OTCPK: HTZGQ) today announced the completion of the sale of its wholly-owned subsidiary, Donlen Corporation to Athene Holding Ltd. (NYSE: ATH) that was announced in November. Hertz received $891 million in cash proceeds per the terms of the transaction, subject to certain adjustments post-closing based on the level of assumed indebtedness, […]

Filed Under: News Tagged With: Acquisitions, Hertz

Hertz Announces Sale of Donlen Corporation to Athene Holding

November 30, 2020 By CollisionWeek Editor

Hertz Global Holdings, Inc. (OTCPK: HTZGQ) announced that it has entered into an agreement to sell its wholly-owned subsidiary, Donlen Corporation, a fleet management leader, to Athene Holding Ltd.  (NYSE: ATH), a financial services company, for an anticipated cash payment of $825 million subject to adjustments for fleet equity, working capital and assumed debt. Hertz […]

Filed Under: News Tagged With: Acquisitions, Hertz

Hertz Announces Changes in Finance Leadership

August 17, 2020 By CollisionWeek Editor

Hertz Global Holdings, Inc. (NYSE: HTZ) announced that Chief Financial Officer (CFO) Jamere Jackson, has resigned to pursue a new opportunity. Jackson will remain with Hertz until September 11, to assist in the transition of his responsibilities. The company also announced the promotion of R. Eric Esper to Executive Vice President of Finance, Chief Financial […]

Filed Under: News Tagged With: Hertz, People

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