Hertz Doled Out $20 Mil In Severance Pay Last Year

Hertz Doled Out $20 Mil In Severance Pay Last Year

As research firm footnoted* points out in a June 1st report, Hertz filed an 8-K last week that disclosed severance pay for Hertz Equipment Rental Corp. CEO Brian MacDonald. As the filing noted, MacDonald resigned just a few days ago on May 20th, and it looks like he will walk away with a total of at least $8.1 million in severance.

However, unlike most corporate resignation announcements, this time Hertz did not even bother with the usual “personal reasons” or “spend more time with the family” excuses. It was the same for the usual language about “no disagreements” typically seen in 8-K filings announcing an unexpected departure.

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More on Hertz CEO Brian MacDonald resignation and severance package

The press release from Hertz did not even include the de rigeur quote from the CEO praising MacDonald. Instead, the firm’s statement quoted CEO