Hertz appoints highflying Goldman Sachs CFO as new leader

New York City, USA - September 19th, 2018: The New York Stock Exchange. It is the largest stock exchange in the world by market capitalization and the most powerful global financial institute.Herz logo can be seen in the picture.

Stephen M Scherr has been appointed as CEO of Hertz to steer the rental car company as it enters the next era in global mobility and travel.

Hertz CEO Stephen M. Scherr

Scherr will lead Hertz and its global workforce of nearly 25,000 in its ongoing transformation to deliver products and services that meet the changing needs of travellers by combining the company’s experience in fleet management and history of innovation with new technology to work towards its core priorities; shared mobility, electrification and a digital-first customer experience.

Scherr will step into his new role as CEO and board member of Hertz on 28 February 2022.

“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,” said Scherr.

“I am thrilled to join Hertz and lead the team as we put our customers at the centre 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’s storied 103-year history.”

Scherr spent nearly three decades at Goldman Sachs leading a range of strategic and operational functions, departing the firm as chief financial officer at the end of last year.

“Stephen is the leader Hertz needs to grow our business and to have a formidable position in the future of mobility and fleet management,” said Greg O’Hara, chairperson of Hertz’s Board and founder and senior managing director at Certares.

“He is a proven strategist, innovator and leader with a track record of earning customer loyalty.

“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.”


Featured image: iStock/Chalffy

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