Hertz Global Adds New Board Members

By Bobby Samwell • Tuesday, August 27 07:56 • Permanent Link

Hertz Global Holdings, Inc. (NASDAQ: HTZ) has announced the addition of two new members to its board of directors, effective today. The board will be expanded from nine to 11 members with the election of Mr. Francis “Frank” Blake and Ms. Lucy Clark Dougherty.

Mr. Blake, the retired Chairman and CEO of The Home Depot, brings a wealth of experience from his tenure at the company as well as his previous roles at Delta Air Lines, the U.S. Department of Energy, and the U.S. Environmental Protection Agency. Ms. Clark Dougherty, currently serving as Senior Vice President, General Counsel, and Board Secretary of Polaris Inc., has held leadership positions at General Motors and the U.S. Department of Homeland Security.

Hertz's CEO, Gil West, who joined the company on April 1, has been instrumental in assembling a world-class leadership team to execute the company’s strategy of delivering sustainable growth and creating value through operational performance and an enhanced customer experience.

In terms of financial performance, according to the latest available financial data, Hertz reported total revenue of $7.3 billion for the last fiscal year, representing a 22% increase from the previous year. Additionally, the company's net income for the same period stood at $213 million, marking a significant improvement from the prior year's net loss of $58 million.

Hertz's expansion of its board and the addition of experienced members signal the company's commitment to strengthening its corporate governance and benefiting from the expertise of individuals with diverse backgrounds. The move comes as part of Hertz's broader efforts to position itself for future success and sustainable growth.

As Hertz continues to navigate the evolving landscape of the global rental car industry, the company's focus on enhancing its leadership team and governance structure is aligned with its strategic goal of delivering value to its stakeholders and customers. Following these announcements, the company's shares moved 4.3%, and are now trading at a price of $3.43. For more information, read the company's full 8-K submission here.

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