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Hertz Global Holdings (OTC:HTZGQ), Inc. (NASDAQ:HTZ), the $1.59 billion market cap car rental company, announced that Eric Leef, Executive Vice President and Chief Human Resources Officer, has informed the company of his intent to resign from his position. According to a statement released through a SEC filing, Leef notified the company of his decision on August 19. The announcement comes as InvestingPro data shows Hertz facing some financial headwinds, with the company’s overall financial health score currently rated as WEAK.
Leef will remain in his current role through September 5 to assist with the transition process. During this period, he will continue to fulfill his responsibilities as Executive Vice President and Chief Human Resources Officer.
The company also stated that Christopher G. Berg, Executive Vice President and Chief Administrative Officer, will continue to oversee the human resources function while a search is conducted for a permanent successor. This arrangement aligns with the company’s succession planning procedures.
Hertz Global Holdings, Inc. is based in Estero, Florida, and its common stock and warrants are listed on The Nasdaq Stock Market LLC under the symbols HTZ and HTZWW, respectively.
The information in this article is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, Hertz Global has announced a partnership with Amazon (NASDAQ:AMZN) Autos, enabling customers to purchase pre-owned vehicles online through Amazon’s platform. This collaboration initially rolls out in Dallas, Houston, Los Angeles, and Seattle, with plans to expand nationwide. In another development, Hertz has expanded its Rent2Buy program to over 100 cities, allowing customers to test drive vehicles for up to three days before purchasing. The program includes 2025 models, and 80% of participants ultimately choose to buy the vehicle they test.
On the financial front, Jefferies maintained a Hold rating on Hertz, noting progress toward the company’s $1 billion EBITDA goal. The firm highlighted improvements in the company’s daily profit per unit (DPU), with expectations for further gains in the coming quarters. Susquehanna also raised its price target for Hertz to $6.00, citing solid progress in DPU metrics despite challenges in pricing. Meanwhile, Goldman Sachs reiterated its Sell rating with a $3.00 price target, indicating a cautious stance despite a slight earnings beat.
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