WHY IT RATES: The car rental giant is expected to execute a swift and successful search for a new Chief Operating Officer.—Patrick Clarke, TravelPulse Senior Editor
Hertz Global Holdings, Inc. today announced that Paul Stone, Chief Operations Officer and President, will step down from his role effective September 30, 2023, to pursue opportunities in the retail sector, where he began his career.
Paul will remain employed with the company in a transitional capacity through October 31, 2023.
The company will conclude a search for a Chief Operating Officer in short order. In the interim, key operations leadership will report directly to Stephen M. Scherr, Chair and Chief Executive Officer.
"I want to thank Paul for his leadership at Hertz, particularly through the company's restructuring," said Scherr. "I look forward to completing the leadership team, focused on transforming the future of Hertz, with the selection of a new COO."
"Hertz's progress under Stephen's leadership has been impressive, and I am confident that the team he has built will deliver meaningful value for customers and shareholders in the years ahead," said Stone.
SOURCE: Hertz press release.
For the latest travel news, updates and deals, subscribe to the daily TravelPulse newsletter.
Topics From This Article to Explore
