Hertz have announced that Gil West, former Chief Operating Officer of Delta Airlines and GM’s Cruise unit, will become CEO effective 1 April 2024, at which time he will join the Board. West will succeed Stephen Scherr, who has decided to step down as Chief Executive Officer and member of the Board of Directors on March 31, 2024. West and Scherr will work together over the next several weeks to ensure a smooth transition.

“We are thrilled to have Gil join Hertz as Chief Executive Officer,” said Tom Wagner, Vice Chair of the Hertz Board of Directors. “Gil’s experience as a successful leader in operationally intensive businesses will further strengthen the Company’s world class team of over 27,000 global employees who work tirelessly to deliver outstanding service to customers daily. We are appreciative of Stephen’s contribution over the last two years, including on a number of key strategic initiatives, which Gil will now lead in their continued execution.”

“I am excited to join Hertz and build on its extraordinary family of brands and global network,” said West. “With a 106-year history, Hertz enjoys incredible brand strength and customer loyalty and I look forward to working with the team to achieve its potential for our customers, team members and shareholders.

The news comes only a month after reports that Hertz was considering a round of redundancies after selling a third of its loss-making EV fleet in an effort to save $250 million.

“The company clearly took on more EV exposure than where the market otherwise took us,” Scherr said. “The decision we made in the fourth quarter to make a pivot on EV sets us up for a transitional year that’s achievable. We’ll spring into 2025 a better company.”