Ex-Dollar Thrifty CEO mooted for Hertz top job
Hertz Global Holdings has appointed Brian MacDonald as interim CEO and Linda Fayne Levinson as non-executive chair of the board, following the resignation of Mark Frissora.
Frissora stepped down "for personal reasons" amid pressure from shareholders following accounting irregularities and underperformance.
Hertz has begun a search for a new permanent CEO with Bloomberg Business reporting that some investors and industry analysts have talked up Scott Thompson, the former CEO of Dollar Thrifty as a successor even before news of Frissora’s departure.
Hertz acquired Tulsa-based Dollar Thrifty for $2.3 billion in 2012.
"There has been a clamoring for Scott Thompson, who did a fabulous job in taking Dollar Thrifty from close to bankruptcy to an $87.50 per share buyout," said Michael Millman, principle of securities research company Millman Research Associates.
Hertz hasn’t filed official financial results this year due of accounting issues relating to its past three years of financial statements.
Billionaire investor Carl Icahn recently took a 8.5% stake in the car rental firm to press the board about "operational failures and lack of confidence in current management."
Frissora was appointed Hertz CEO in mid-2006 shortly before the company went public.
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