ESTERO, Fla., May 21, 2015 /PRNewswire/ -- Hertz Global
Holdings, Inc. (NYSE: HTZ) ("Hertz" or "the
Company") announced today that Lawrence (Larry) H. Silber has been appointed
President and CEO of Hertz Equipment Rental Corporation (HERC),
replacing Brian MacDonald, who has stepped down, effective
immediately. On May 14, 2015,
the Company reiterated its intention to separate the equipment and
car rental businesses into two publicly traded companies.
John Tague, Hertz President and
Chief Executive Officer, said, "HERC is one of the world's leading
equipment rental businesses, and we are confident that Larry's
leadership and experience, as well as his reputation as a great
operator, will reenergize HERC's performance on the topline and
importantly in dollar value utilization, which is a key performance
driver for this industry."
Silber began his career in sales and took on his first P & L
responsibility as GM of the Material Handling Division of Ingersoll
Rand in 1994. Later, he reenergized Ingersoll Rand's focus on
equipment sales to the rental industry sector and ran its company
store network, including establishing a remarketing and
remanufacturing business unit for used equipment. In his last
role at Ingersoll Rand, Silber was President of the Utility
Equipment Group, later leading the divestiture and transition of
this and other related businesses for the company. He also
was the Chairman and CEO of Ingersoll Rand Canada Inc.
"Given his deep set of experiences in the heavy equipment
sector, we are excited to have Larry
Silber lead HERC's business transformation, while also
helping us navigate through the HERC separation process," said Mr.
Tague.
Silber said, "It's an honor to join the Hertz team at this
critical time in HERC's history as it prepares for a future as an
independent company. I have long been associated with
HERC and am excited to be joining the premier global equipment
rental company. We will position HERC for stronger, more
diversified growth with the most efficient cost structure
possible. HERC's customers and investors should be confident
that the company will be a long-term competitive and reliable force
in the market."
About Lawrence
Silber
Silber has served since 2014 as an Executive
Advisor at Court Square Capital Partners, LLP. He has also
served as a Board Member of SMTC Corporation since 2013 and for a
time served as its interim President and CEO. He serves on the
Board of Directors of Pike Corporation, Inc. Silber led
Hayward Industries, the world's largest swimming pool equipment
manufacturer as COO from 2008 – 2012, overseeing a successful
transition through the recession returning the company to solid
profitability. From 1978-2008, Larry worked for Ingersoll
Rand in a number of roles of increasing responsibility. He
led major Ingersoll Rand business groups including Utility
Equipment, Rental and Remarketing and the Equipment and
Services businesses. Earlier in his career, he led Sales,
Marketing and Operations functions in the company's Power Tool
Division and Construction and Mining Group.
ABOUT HERTZ
Hertz operates the Hertz, Dollar, Thrifty and Firefly car rental
brands in more than 10,500 corporate and licensee locations
throughout approximately 145 countries in North America, Europe, Latin
America, Asia, Australia, Africa, the Middle
East and New Zealand. Hertz
is the largest worldwide airport general use car rental company
with more than 1,600 airport locations in the U.S. and more than
1,300 airport locations internationally. Product and service
initiatives such as Hertz Gold Plus Rewards, NeverLost®,
Carfirmations, Mobile Wi-Fi and unique vehicles offered through the
Adrenaline, Dream, Green and Prestige Collections set Hertz apart
from the competition. Additionally, Hertz owns the vehicle leasing
and fleet management leader Donlen Corporation, operates the Hertz
24/7 hourly car rental business and sells vehicles through its
Rent2Buy program. The Company also owns Hertz Equipment Rental
Corporation ("HERC"), one of the largest equipment rental
businesses with more than 350 locations worldwide offering a
diverse line of equipment and tools for rent and sale. HERC
primarily serves the construction, industrial, oil, gas,
entertainment and government sectors. For more information about
Hertz, visit: www.hertz.com.
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SOURCE Hertz Global Holdings, Inc.