Hertz Announces New CEO

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Feb. 7, 2022—Hertz has announced the appointment of a new Chief Executive Officer. 

Stephen Scherr, a 30-year Goldman Sachs executive, will assume the role of CEO and board member on Feb. 28, 2022. Scherr will oversee the rental car company and its workforce of 25,000. 

Former CEO Mark Fields will continue on as a director for Hertz's board. 

"Stephen is the leader Hertz needs to grow our business and to have a formidable position in the future of mobility and fleet management," Greg O'Hara, chairperson of Hertz's board and founder and senior managing director at Certares, said in a statement. "He is a proven strategist, innovator and leader with a track record of earning customer loyalty.

"Hertz is an extraordinary brand and a resilient business that is perfectly positioned to reshape how people move about in a safe, convenient, affordable and more environmentally-friendly way," said Scherr in the statement. "I am thrilled to join Hertz and lead the team as we put our customers at the center of our business and partner with those who believe in our vision for the future of mobility. We are committed to giving our customers a world class experience deserving of Hertz's storied 103-year history."

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