Hertz appoints former United Airlines exec as CEO
Hertz Global Holdings Inc has finally announced a new CEO, naming former United Airlines executive John Tague.
Tague, 52, will be tasked with restoring investor confidence following accounting irregularities, and replaces former CEO, Mark Frissora, who stepped down in September.
It was reported that activist investor Carl Icahn who owns an 8.5 percent stake in Hertz, took part in the screening and selection process for the new CEO.
Tague was previously CEO of transportation firm Cardinal Logistics Holdings and from 2008-2009 chief operating officer at United Airlines.
"I am honored to have been selected to lead Hertz to its full potential at a time of unprecedented opportunity for the Company and industry," Tague said in a statement.
"I look forward to partnering with Hertz employees as we work to earn sustained industry leadership for the benefit of our shareholders, customers and team."
Tague was chosen ahead of Scott Thompson, the former Dollar Thrifty CEO, who was widely tipped for the top job.
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