Hertz Strengthens Leadership Team with Key Executive Appointments

Rhea-AI Summary

Hertz Global Holdings (NASDAQ: HTZ) announced several key executive appointments to boost profitability, operational excellence, and customer service. Sandeep Dube will join as EVP and Chief Commercial Officer on July 22, 2024, while Katherine Lee Martin becomes EVP, General Counsel, and Corporate Secretary. Other new appointees include Henry Kuykendall as EVP, North America Operations, Greg May as EVP, Fleet Management, and Mike Moore as EVP, Technical Operations. CEO Gil West emphasized the strengthened leadership team’s role in executing Hertz’s strategy for sustainable growth and value creation, fueled by recent capital raisings.

Positive

• Appointment of seasoned executives with extensive industry experience to key leadership roles.
• Enhanced leadership team is expected to drive profitability, operational excellence, and customer service.
• Strengthened capabilities to execute strategic initiatives for sustainable growth and value creation.
• Recent capital raising provides added resilience and flexibility for fleet rotation and cost-reduction plans.

Negative

• Potential disruption and integration challenges with multiple new executive appointments.

ESTERO, Fla., July 8, 2024 /PRNewswire/ -- Hertz Global Holdings, Inc. (NASDAQ: HTZ) ("Hertz" or the "Company"), a leading global rental car company, today announced key appointments that will strengthen its leadership team and sharpen the Company's focus on driving enhanced profitability through operational excellence, superior customer service, strategic fleet management, cost control, and premium revenue.

Sandeep Dube will join Hertz as Executive Vice President, Chief Commercial Officer on July 22, 2024, and Katherine Lee Martin, who currently serves as Hertz's Interim General Counsel, will be appointed to Executive Vice President, General Counsel, and Corporate Secretary, effective immediately.

In addition, the following leaders are joining Hertz this month: Henry Kuykendall as Executive Vice President, North America Operations; Greg May as Executive Vice President, Fleet Management; and Mike Moore as Executive Vice President, Technical Operations. Each executive will report to Hertz Chief Executive Officer Gil West.

"The leaders announced today, along with our new CFO Scott Haralson, add capacity and capabilities that complement our existing leadership team's deep institutional knowledge of the rental car industry," said Hertz Chief Executive Officer Gil West. "With this best-in-class leadership team, we are now set to execute our strategy to deliver sustainable growth and create value by excelling at the basics – elevating our operational performance across every facet of our business with continued process improvement, technological and product innovation, and mobilizing our best and most valued asset – our 27,000 employees globally – to deliver an unmatched customer experience."

West added, "Our enhanced executive team, and the added resilience and flexibility afforded by the capital we recently raised, enable us to pursue our fleet rotation plan on an accelerated timeline, deliver our cost and revenue improvement initiatives, and allow Hertz to reach its full potential. We are at an exciting inflection point in our path to generate greater value for our customers, employees, and shareholders."

Sandeep Dube, Executive Vice President, Chief Commercial Officer, will lead global commercial strategy and revenue generation for Hertz through an integrated customer-centric approach, overseeing revenue management and pricing, corporate sales and strategic partnerships, customer experience, product development, loyalty programs, marketing, and franchise. Dube has over 25 years of experience leading transformational growth for businesses. He most recently served as Chief Operating Officer at Intuit Mailchimp. Before that, he was Chief Commercial Officer at Activision Blizzard, and he held senior leadership roles at Delta Air Lines, including Senior Vice President, Revenue Management, leading revenue, product strategy, and commercial delivery, Senior Vice President, Digital, Loyalty, Lounges, and Consumer Insights, and Chief Executive Officer of Delta Vacations.

Katherine Lee Martin, Executive Vice President, General Counsel, and Corporate Secretary, will continue to oversee Hertz's global legal affairs, government affairs, as well as sustainability and social impact teams. Martin has served as the Company's Interim General Counsel and Assistant Corporate Secretary since April 2024, after joining Hertz in May 2023 as Vice President, Chief Counsel. Prior to joining Hertz, she held senior leadership positions at X Corp. and Twitter, where she oversaw the company's global portfolio of highly complex litigation, regulatory, and competition matters. Before joining Twitter, Martin spent more than a decade as an Assistant U.S. Attorney at the U.S. Department of Justice.

Henry Kuykendall, Executive Vice President, North America Operations, will oversee airport and off-airport car rental operations across North America. Kuykendall previously spent 33 years at Delta Air Lines, where he held several key leadership roles focused on operations, customer service and sales, and the development of best-in-class processes. He most recently served as Senior Vice President, Airport Operations, East, overseeing all airport operations at Boston Logan International Airport, Detroit Metropolitan Airport, LaGuardia Airport, and John F. Kennedy International Airport. In that role, Kuykendall also oversaw Delta's operations at 41 stations in the East and at 137 smaller airport locations across the U.S., which comprised over 20,000 employees and contractors.

Greg May, Executive Vice President, Fleet Management, will lead all aspects of Hertz's fleet management, including fleet procurement and strategy, analytics, and vehicle remarketing. May has over 35 years of experience managing commercial aviation fleets and supply chains and has held leadership positions at Delta Air Lines, Northwest Airlines, and United Airlines, among other companies. He also founded aircraft leasing company Q Aviation and launched Valkyrie BTO Aviation, a commercial aircraft investment company for Blackstone where he most recently served as President and Chief Executive Officer.

Mike Moore, Executive Vice President, Technical Operations, will lead all aspects of Hertz's fleet maintenance. Due to his over 25 years of experience managing fleet operations and maintenance, Moore has expertise in overseeing operations and delivering process improvements that reduce costs and drive enhanced financial performance. He has held leadership positions at Delta Air Lines, where he spent a decade in operations-focused roles of increasing responsibility, and at Northwest Airlines, among others. He most recently served as Executive Vice President, Spaceline Technical Operations at Virgin Galactic.

ABOUT HERTZ
The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar, and Thrifty vehicle rental brands throughout North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia, and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies, and the Hertz brand is one of the most recognized globally. Additionally, The Hertz Corporation owns and operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales. For more information about The Hertz Corporation, visit www.hertz.com.

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SOURCE Hertz Global Holdings, Inc.

FAQ

What new appointments were announced by Hertz (HTZ) on July 8, 2024?

Hertz announced the appointment of Sandeep Dube as EVP, Chief Commercial Officer; Katherine Lee Martin as EVP, General Counsel, and Corporate Secretary; Henry Kuykendall as EVP, North America Operations; Greg May as EVP, Fleet Management; and Mike Moore as EVP, Technical Operations.

When will Sandeep Dube join Hertz (HTZ) as Chief Commercial Officer?

Sandeep Dube will join Hertz as Executive Vice President, Chief Commercial Officer on July 22, 2024.

What roles will Katherine Lee Martin hold at Hertz (HTZ) effective immediately?

Katherine Lee Martin will serve as Executive Vice President, General Counsel, and Corporate Secretary at Hertz, effective immediately.

What impact is expected from Hertz's (HTZ) new executive appointments?

The new executive appointments are expected to boost profitability, enhance operational excellence, and improve customer service, driving sustainable growth and value creation for Hertz.

What expertise does Henry Kuykendall bring to Hertz (HTZ) as EVP, North America Operations?

Henry Kuykendall brings extensive experience in operations, customer service, and sales from his 33-year tenure at Delta Air Lines, where he held key leadership roles overseeing airport operations and customer service.