Hertz names ex-Goldman executive as CEO

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Hertz Global Holdings Inc. HTZ, +2.55% on Friday named retired Goldman Sachs Group Inc. GS, +2.43% executive Stephen M. Scherr as its chief executive officer to lead the car rental company’s 25,000 employees. Scherr, 57, retired on Dec. 31 as chief financial officer, capping off a nearly 30-year career at Goldman. “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,” Scherr said in a statement. Citing people familiar with the matter, The Wall Street Journal reported the move earlier. Scherr will take over the job on Feb. 28 from Mark Fields, a former Ford Motor Co. F, -9.70% executive who has been interim CEO since October. The move comes after Hertz emerged from bankruptcy in June and went public in November. The stock is down about 23% so far this year, compared to a 6.1% dip by the S&P 500.

This article was originally published by Marketwatch.com. Read the original article here.

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