Home Stocks Hertz Names John Tague As President and CEO

Hertz Names John Tague As President and CEO

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Hertz Global Holdings, Inc. (NYSE:HTZ) announced the appointment of John Tague as president and chief executive officer effective tomorrow, November 21, 2014.

The car and equipment rental company said its board of directors appointed Tague after conducting an extensive search, which was supervised by the CEO Search Committee.

Hertz Global Holdings, Inc. (NYSE:HTZ) said its CEO Search Committee is composed of five independent directors with the assistance of a leading executive search firm.

Barry Rosenstein’s Jana Partners, which owns 8.3% stake in Hertz recommended Scott Thompson to become the next CEO of the company.

Hertz says Tague is an industry veteran

According to Hertz Global Holdings, Inc. (NYSE:HTZ), Tague is a veteran in the travel and transportation industry with significant experience in complex turnarounds.

The company also emphasized that Tague delivered demonstrable results in revenue generation, operational excellence and corporate transformation.

Tague previously served as president and chief operating officer of United Airlines. During his tenure at the airlines operator, Tague was credited for his innovative product and pricing programs that generated strong financial results and customer satisfaction.

He also served as Chairman and CEO of Cardinal Logistics Holdings, a leading transportation and logistics provider and private-equity backed company.

Linda Fayne Levinson, independent non-executive chairperson of Herts Global Holdings, Inc. (NYSE:HTZ) said, “John is a leader whose record shows a relentless focus on execution and high performance, having driven the successful turnaround of other large, complex consumer facing companies such as United Airlines.”

Levinson added that Tague has the characteristics they are looking for—a global leader with an intimate understanding of revenue optimization equation and creating shareholder value.

Icahn’s comment on Tague’s appointment

Carl Icahn said his team together with the other members of the CEO Search Committee of Hertz Global Holdings, Inc. (NYSE:HTZ) unanimously selected Tague after spending significant amount of time with a number of highly-qualified candidates.

“I have been involved in a number of CEO searches during the last decade and have been quite impressed by the knowledge and imagination of a number of these candidates, many of whom have turned into very successful CEOs. I am happy to say that after listening to John’s ideas concerning Hertz and evaluating what he has accomplished at United, I believe he ranks at or near the top of the group,” said Icahn.

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