Hertz Appoints New CEO After EV Reversal

On Friday, rental car company Hertz announced the appointment of Gil West as its new chief executive officer, effective April 1.

West, previously the chief operating officer of Delta Airlines and GM’s Cruise unit, will take over from Stephen Scherr, who has chosen to step down as CEO and board member.

This leadership transition occurs amidst challenges faced by Hertz, including increased repair expenses and subdued demand for its electric vehicle rental offerings.

Earlier this year, Hertz revealed plans to sell approximately 20,000 electric vehicles, including Teslas, from its U.S. fleet, opting instead for gas-powered vehicles.

Following the announcement, shares declined by 2% to $7.43 in extended trading.

Josh Alba
Josh Alba
Josh Alba stands at the forefront of contemporary business journalism, his words weaving narratives that illuminate the intricate workings of the corporate world. With a keen eye for detail and a penchant for uncovering the underlying stories behind financial trends, Josh has established himself as a trusted authority in business writing. Drawing from his wealth of experience and relentless pursuit of truth, Josh delivers insights that resonate with readers across industries.
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