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 […]
Hertz Completes Sale Donlen Corporation
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, […]
Hertz Announces Sale of Donlen Corporation to Athene Holding
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 […]
Hertz Announces Changes in Finance Leadership
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 […]
Hertz Global Holdings Reports Global Revenue Down 67% in Second Quarter
Hertz Global Holdings, Inc. (NYSE:HTZ) today reported results for its second quarter 2020 with revenue of $832 million, a net loss of $847 million and adjusted Corporate earnings before interest, taxes, depreciation and amortization (EBITDA) of negative $587 million. Liquidity at the end of the second quarter was $1.4 billion. In May, Hertz filed for […]
Hertz Global Holdings Files for Chapter 11 Reorganization
Rental provider has $1 Billion in cash on hand to support continuing operations as coronavirus crisis impacts business. Hertz Global Holdings, Inc. (NYSE:HTZ) on May 22 announced it and certain of its U.S. and Canadian subsidiaries have filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. […]
Paul Stone Named President and CEO at Hertz
Hertz Global Holdings, Inc., (NYSE:HTZ) today announced that its Board of Directors has named Paul Stone President and Chief Executive Officer, effective immediately. Stone, most recently Hertz’s Executive Vice President and Chief Retail Operations Officer, North America, also has been elected to the Hertz Board of Directors. Stone succeeds Kathryn V. Marinello, who plans to […]
Hertz Provides Free Rentals to New York City Healthcare Workers
Hertz (NYSE:HTZ) announced March 25 that it will start providing free vehicle rentals to New York City healthcare workers through April 30. Healthcare workers can reserve a vehicle at 19 New York City-area Hertz locations so they can continue providing critical care to the community during the coronavirus pandemic. “With New York City having the […]
NABC Partners with Collision Repair Education Foundation and Hertz on Student Distracted Driving Initiative
Students at Kingswood Park High School in Houston, Texas experienced a virtual education program that shared the dangers of distracted driving. Thanks to support from Hertz, the National Auto Body Council Distracted Driving Initiative was able to bring the “It Can Wait” program to hundreds of high school students participating in the Collision Repair Education […]
Kristle Bollans Named to NABC Board
The National Auto Body Council has named Kristle Bollans, Director of Replacement Accounts for the Hertz Corporation, to its board of directors filling an open position. Bollans has been with The Hertz Corporation for 16 years, holding positions in both the Airport and Off Airport Divisions. In her current role, Bollans oversees a large team […]