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

Latest News

  • Aviation

Low-cost Indian carrier SpiceJet continues to burn cash

It’s not just low-cost Australian carriers that are facing hardship. SpiceJet, India’s version of Bonza, recently announced a 72 per cent reduction in its net loss versus last year. But, despite this improvement, the airline has posted losses for six straight years. But it has secured board approval to raise up to INR 30 billion […]

  • Attractions

SAKA Museum recognised in TIME magazine’s World’s Greatest Places 2024

AYANA Resort Bali’s newly-opened cultural and events centre, SAKA Museum has been recognised in TIME magazine’s World’s Greatest Places list for 2024. Part of AYANA Bali’s resort destination, the museum integrates Bali’s rich history with state-of-the-art facilities, making it the centrepiece for the island’s spiritual and cultural heritage. TIME magazine’s inclusion of SAKA Museum in […]

  • Cruise

Silversea taps Barbara Biffi as senior vice president for global sales

Ultra-luxury and expedition cruise travel brand, Silverseas, has announced Barbara Biffi as its new senior vice president of global sales. Biffi joined the company in 2007, holding numerous positions and gaining a deep understanding of the brand, the preferences of its guests and its strategic goals, the company said. An Italian national with a wealth […]

  • Technology
  • Travel Agents

Amadeus welcomes FCM Travel as new reseller partner of Cytric Easy

Cytric Easy, the travel management tool embedded in Microsoft Teams, is to be integrated into FCM Travel portfolio. Amadeus and FCM Travel have extended their Cytric distribution agreement to include Cytric Easy. With this new agreement, global travel management company FCM Travel, becomes a reseller of the innovative travel management collaboration solution embedded into Microsoft […]