New CEO for Hertz

Travel and transport industry veteran John Tague has been appointed as the new CEO of Hertz, replacing Brian MacDonald , who became group interim CEO following departure of Mark Frissora earlier this year.

Mr MacDonald remains CEO of Hertz’s equipment rental business, Hertz Equipment Rental Corporation (HERC).

Mr Tague is a former president and CEO of United Airlines, and most recently served as chairman and CEO of transportation and logistics provider Cardinal Logistics Holdings.

Linda Fayne Levinson, independent non-executive chair of the Hertz board, said, "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.

“The board was very clear about what we needed in a new CEO for Hertz. We were looking for a world class global leader who knows the travel industry and its players, has an intimate understanding of the revenue optimisation equation, drives operational excellence, has driven turnarounds, is a superb people leader, and most of all, understands how to create shareholder value. In John we have found that leader."

Mr Tague added, "I am honoured to have been selected to lead Hertz to its full potential at a time of unprecedented opportunity for the company and industry. I look forward to partnering with Hertz employees as we work to earn sustained industry leadership for the benefit of our shareholders, customers and team."