US: Hertz finally sees investor favorite named CEO image

Hertz Global Holdings Inc., the car-rental company that lost its chief executive officer after a scandal revealed botched financial statements, has opted to name John Tague as its new CEO.

Tague was elected instead of the former chief executive officer of Dollar Thrifty, and before that he had been the president and chief operating officer of United Airlines and is also Hertz’s new president, according to a statement coming from the Naples, Florida-based rental-car company. Tague has been snatched from his previous position as CEO of transportation and logistics provider Cardinal Logistics Holdings.

Hertz went with Tague instead of Scott Thompson, the former Dollar Thrifty CEO, the favorite of some of the car-rental company’s biggest investors. Back in September Hertz announced that Frissora left his post for “personal reasons,” but the company is yet to provide any financial results for 2014 and also announced that its investors can’t take for granted the statements from the previous three financial years.

“John is a leader whose record shows a relentless focus on execution and high performance, having driven the successful turnaround of other large, complex consumer-facing companies such as United Airlines,” said in the statement Chairman Linda Fayne Levinson. Hertz has been battling operational issues and accounting missteps after acquiring Dollar Thrifty and lowering the number of major rental-car firms in the US to just three.

Via Bloomberg