ESTERO, Florida, June 30, 2021 / PRNewswire / – Hertz Global Holdings, Inc. (OTCPK: HTZGQ) (“Hertz” or the “Company”) has announced the composition of its new Board of Directors whose term comes into effect with the successful restructuring of the Society and its emergence from Chapter 11 today. The new board will initially consist of eight members with up to three additional directors to be appointed in the future. The eight appointed members include the founder of Certares Michael Gregory O’Hara as president ; Co-founder of Knighthead Capital Thomas wagner as vice-president; Senior Managing Director of Certares Colin Farmer; Andrew Shannahan, Knighthead partner; Apollo Partner Christopher Lahoud; Senior Advisor to TPG Capital and former CEO of Ford Motor Company Mark Fields; current member of the board of directors of Hertz Vincent Intrieri; and Hertz President and CEO Pierre Pierre.
Pierre Pierre said, âWe are delighted to welcome our new board members and benefit from their collective expertise, leadership and oversight at this pivotal time for Hertz and the travel industry. These leaders bring extensive financial, operational and market experience that will be invaluable in the next chapter for Hertz. I would also like to express our company’s appreciation to our outgoing board members for their service and tireless efforts, especially throughout the last year and a half of the pandemic and our successful restructuring. “
Biographies of New Hertz Board Members
- Michael Gregory (Greg) O’Hara, President; Founder and Senior Managing Director of Certares, a company investing in the travel, tourism and hospitality industries, and co-founder of GO Acquisition Corp. He is the head of the investment committee of Certares and a member of the management committee. Prior to forming Certares, he served as Chief Investment Officer of JPMorgan Chase’s Special Investments Group (âJPM SIGâ). Prior to this role at JPM SIG, Greg was Managing Director of One Equity Partners (“OEP”), the private equity arm of JPMorgan. Before joining OEP in 2005, he was Executive Vice President of Worldspan and a member of its Board of Directors. Greg is Executive Chairman of American Express Global Business Travel and Vice Chairman of Liberty TripAdvisor Holdings and sits on the Boards of Liberty TripAdvisor Holdings and Tripadvisor, The Innocence Project, World Travel & Tourism Council and Certares Holdings.
- Thomas (Tom) Wagner, vice-president; Co-Founder and Managing Member of Knighthead Capital Management, LLC, an event-driven, value-driven SEC-registered investment advisor who specializes in investing in companies in need of financial restructuring and operational. His extensive financial experience also includes the role of Managing Director at Goldman Sachs in the trading of capital structure franchises, as well as roles at Credit Suisse First Boston and Ernst & Young, LLP. Tom is currently Chairman of the Board of Directors of Knighthead Annuity & Life Assurance Company and a member of the Board of Directors of University of Villanova, the National Advisory Board for Youth Inc. and the National Leadership Council for the Navy SEAL Foundation. He is the co-portfolio manager of all funds and accounts managed by Knighthead Capital Management, LLC.
- Colin Farmer, Senior Managing Director and Head of the Management Committee of Certares. Previously, he was Managing Director of One Equity Partners. Previously, he was a director at Harvest Partners, a mid-market private equity firm, and an analyst at Robertson Stephens & Company, a mid-market investment bank. Colin sits on the boards of directors of Internova Travel Group, AmaWaterways, Guardian Alarm, Mystic Invest and Certares Holdings, and is a member of the investment committee of Certares.
- Andrew Shannahan, Head of Research and Partner at Knighthead Capital Management, LLC, an event-driven, value-driven SEC-registered investment advisor specializing in investing in companies in need of financial restructuring and operational. Andrew oversees the Knighthead research team with his thirteen-year investment expertise at Knighthead, leading complex investment situations. Prior to joining Knighthead in 2008, he spent six years as a senior research analyst for Litespeed Partners, an event hedge fund. Andrew is a member of the investment committee of certain funds managed by Knighthead Capital Management, LLC.
- Christophe Lahoud, credit partner at Apollo Global Management. Prior to joining Apollo, he was head of the distressed products group at Deutsche Bank, managing a team of 15 professionals. He started his career at Citigroup in 2006 as a credit trader and currently serves on the board of directors of Moxe Health.
- Mark fields, Senior Advisor at TPG Capital and former President and CEO of Ford Motor Company. He has held leadership positions within the company including Chief Operating Officer, Executive Vice President and President of the Americas, Executive Vice President and General Manager of Premier Automotive Group and Ford Europe, President and Managing Director of Premier Automotive Group, and President and CEO of Mazda Motor Corporation. He is the independent lead director of Tanium and sits on the board of directors of Qualcomm. He has served on the boards of directors of Ford, IBM and Mazda, as well as four private companies on behalf of TPG Capital.
- Vincent Intrieri, CEO and Founder of VDA Capital Management LLC and has been a director of Hertz Global Holdings since june 2016 and Hertz since September 2014. Previously he was with Icahn related entities of October 1998 at december 2016 in various investment-related functions, including as Senior Managing Director of Icahn Capital LP, Senior Managing Director of Icahn Onshore LP and Icahn Offshore LP. Before joining Icahn Capital, Vincent was a partner at Arthur Andersen LLP. He is co-principal director of Navistar International and director of Transocean Limited. Previously, he was a director of Energen Corporation, Conduent Incorporated, Chesapeake Energy, Forest Laboratories Inc, CVR Energy Inc, Federal-Mogul Corporation and various other public companies.
- Pierre Pierre, President and CEO of Hertz Global Holdings, Inc. Appointed CEO in May 2020Paul led the Company through its successful operational and financial restructuring. He joined Hertz in March 2018 as Executive Vice President and Head of Retail Operations for North America. Previously, he was Director of Retail Sales at Cabela’s Inc. He spent the first 28 years of his career in various management positions at Walmart Inc.
The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands in North America, Europe, the Caribbean, Latin America, Africa, the Middle East, in Asia, Australia and New Zealand. Hertz Corporation is one of the largest car rental companies in the world and the Hertz brand is one of the most recognized in the world. In addition, The Hertz Corporation operates the Firefly car rental brand and Hertz 24/7 carsharing business in international markets and sells vehicles through Hertz Car Sales. For more information on The Hertz Corporation, visit www.hertz.com.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements” within the meaning of federal securities laws. Words such as âexpectâ and âintendâ and similar expressions identify forward-looking statements, which include, but are not limited to, statements related to our positioning. We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties that we may not be able to predict or assess with precision, including those of our risk factors as we identify in our most recent annual report on Form 10-K for the year ended December 31, 2020, as filed with the Securities and Exchange Commission on February 26, 2021, and any related updates in the Company’s quarterly reports on Form 10-Q and current reports on Form 8-K. We caution you not to place undue reliance on our forward-looking statements, which speak only as of their date, and we assume no obligation to update any such information.
SOURCE Hertz Global Holdings, Inc.