Hertz appoints former Ford CEO Mark Fields as interim CEO

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Oct. 5 (Reuters) – Hertz Corp (HERTZ.UL) has appointed former Ford Motor Co (FN) CEO Mark Fields as interim CEO, the car rental company said on Tuesday.

Fields succeeded Alan Mulally as chief executive officer of America’s second-largest automaker in 2014. He was ousted in 2017 and replaced by Jim Hackett.

Hertz Corp, a subsidiary of Hertz Global Holdings (HTZZ.PK), operates the Hertz, Thrifty and Dollar rental car brands.

Fields joined Hertz’s board of directors in June. He is also a member of the board of directors of Qualcomm (QCOM.O) and senior advisor to TPG Capital (TPG.UL).

At Hertz, Fields succeeds Paul Stone, who becomes president and chief operating officer, the company said.

In May, Hertz said a group of investors including Knighthead Capital Management, Certares Opportunities and Apollo Capital Management would fund the company’s exit from Chapter 11 bankruptcy.

The 103-year-old car rental company was once owned by General Motors (GM.N), who sold it back to former owner John Hertz in 1953. Subsequent owners included RCA, the parent company of United Airlines UAL Corp and Ford , which sold the business in 2005 to private equity firm Clayton, Dubilier & Rice.

Report by Paul Lienert in Detroit; Editing by Will Dunham

Our Standards: The Thomson Reuters Trust Principles.


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