Hertz appoints former Ford boss Mark Fields as interim CEO after bankruptcy
Car rental giant Hertz has appointed former Ford CEO Mark Fields as the new interim CEO.
Fields joined the Hertz board in June and succeeds Paul Stone in his role at Hertz. The company’s shares jumped 13.3% in response to the news and comes just months after Hertz exited bankruptcy after being crippled by the coronavirus pandemic last year.
Also read: Hertz shares skyrocket as it approves $ 6 billion plan to come out of bankruptcy
“Hertz is a global icon, and I am honored to help lead the company into its next 100 years,” Fields said in a statement. “Hertz’s unparalleled global footprint will be coupled with forward-looking investments that will completely change the face of travel and mobility. The world will be hearing a lot about Hertz in the weeks and months to come. “
Mark Fields was Ford’s chief executive between 2014 and 2017, but was ultimately ousted by the automaker in part due to his lack of vision for the electric and autonomous future, as well as the lagging share price of the company. He was quickly replaced by Jim Hackett who served as CEO of Ford until 12 months ago, when Jim Farley took over.
“This is an incredibly exciting time for Hertz, and we couldn’t be more delighted to have Mark’s leadership, first as Director of the Board of Directors and now as Interim CEO,” added the founder and CEO of Certares and the chairman of the board of directors of Hertz, Greg O’Hara. “Mark’s extensive automotive and technology experience will be essential as we remake Hertz for the future. We are building from a renewed position of strength to reimagine the future, and Mark’s continued leadership on the board and his role for the time being as interim CEO are the next important steps in getting us there.