Hertz introduced modifications to the composition of its board of administrators, efficient instantly. 

Greg O’Hara, founder and senior managing director of Certares and present chair of the Hertz board, is stepping down from the board. Certares and Knighthead had been the principals that led Hertz by means of reorganization. Thomas Wagner, managing companion of Knighthead, will stay on the board as vice chair and Colin Farmer, senior managing director at Certares, will proceed to face as lead director. 

“It has been a pleasure serving on the Hertz board for the final 18 months and supporting the corporate’s launch of its new strategic route beneath Stephen’s management,” stated O’Hara in a press release. “The Certares and Knighthead groups invested in Hertz in 2021 as a result of we noticed Hertz’s distinctive place to capitalize on the altering mobility panorama. I’ve large confidence in Stephen and the board’s skill to offer the management vital to comprehend our thesis.”

Stephen Scherr, chief govt officer of Hertz, will assume the place of board chair. Together with this modification, Fran Bermanzohn, former deputy normal counsel at Goldman Sachs, and Jeffrey Nedelman, a senior managing director at Certares, will be a part of the board as unbiased administrators. 

“We’ve got made appreciable progress since I joined Hertz final February. With the gifted management group now assembled, we’re well-positioned to execute on our core priorities of shared mobility, electrification, and a digital-first buyer expertise,” added Scherr.  “I’m honored to chair this extremely certified board, and with the addition of Fran and Jeff, the board is more and more extra unbiased and various in its composition.”

The modifications introduced improve the dimensions of the Hertz board of administrators to 10 members and the variety of unbiased administrators to eight.