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Lawrence H. Silber

President and Chief Executive Officer at HERC HOLDINGS
Board
Since May 2015
Age
68 years
Tenure
Joined HRI in May 2015 as President and Chief Executive Officer and has led the company since then, contributing to its strategic growth and operational excellence.

Also at HERC HOLDINGS

ADB
Aaron D. Birnbaum
Senior Vice President and Chief Operating Officer
CJC
Christian J. Cunningham
Senior Vice President and Chief Human Resources Officer
MH
Mark Humphrey
Senior Vice President and Chief Financial Officer

About

Lawrence H. Silber has served as the President and Chief Executive Officer of HRI since May 2015. Before his tenure at HRI, he contributed his expertise as an executive advisor at Court Square Capital Partners, LLP from April 2014 to May 2015, and as the Chief Operating Officer at Hayward Industries from 2008 to 2012, where he played a key role in steering the company back to profitability during challenging economic times.

Earlier in his career, he had a distinguished 30-year tenure at Ingersoll-Rand plc, a major publicly traded manufacturer, where he advanced through roles with increasing responsibility, including leading substantial business units in sales, marketing, and operations. His extensive industry experience has significantly shaped his leadership style at HRI, contributing to the company’s strategic direction and robust market presence.

In addition to his executive role at HRI, Silber has served on various boards, including his long-standing director role at Hayward Holdings, Inc. since November 2019 and a previous board membership at SMTC Corporation where he also served as interim president and CEO. Although details regarding his personal background and educational journey are not available, his professional accomplishments and deep industry insights have made him a respected leader in his field.

$HRI Performance Under Lawrence H. Silber

Past Roles

OrganizationRoleDate RangeDetails
Court Square Capital Partners, LLP Executive AdvisorApril 2014 - May 2015 Advised in sectors including business services, healthcare, general industrial, technology, and telecommunications
SMTC Corporation Board Director / Interim CEO2012 - 2015 (Interim CEO: May 2013 - January 2014 )Served on board and acted as interim CEO
Hayward Industries Chief Operating Officer2008 - 2012 Oversaw recession transition and returned the company to profitability
Ingersoll-Rand plc Various Senior Roles1978 - 2008 Held increasing responsibilities across multiple business units including Utility Equipment and others

External Roles

OrganizationRoleDate RangeDetails
Hayward Holdings, Inc. DirectorSince November 2019 N/A

Fixed Compensation

Data from  FY 2023
Component NameAmountPayment ScheduleAdditional Details
Salary$966,635 Annual 2023Fixed base salary
Company 401(k) Matching Contribution and Deferred Compensation Contributions$120,226 Annual 2023401(k) matching and deferred compensation
Personal Use of Car$11,231 Annual 2023Non-cash benefit valuation
Personal Aircraft Usage$100,000 Annual 2023Expense reimbursement
Other Compensation$15,000 Annual 2023Additional compensation component

Performance Compensation

Data from  FY 2023

EICP (Non-Equity Incentive Plan Compensation)

Metric (Unit)ThresholdTargetMaximumWeightCitations
Adjusted EBITDA (Million USD)$1,350.0 $1,500.0 $1,602.0 50%
Return on Revenue Earning Equipment (%)22.8% 24.5% 26.2% 30%
Equipment Rental Revenue Growth (%)11.4% 19.0% 23.8% 20%
Payout MetricAmount (USD)Citations
Threshold Payout$650,000
Target Payout$1,300,000
Maximum Payout$2,600,000
  • Company Performance Score: 89.6%
  • Individual Performance Score: 112%
  • Overall EICP Payout: 100.4%
  • Vesting Schedule: Cash-based incentive plan; no vesting applicable
  • Evaluation Period: Annual performance for 2023

Performance Stock Units (PSUs)

Metric (Percent/Unit)ThresholdTargetMaximumWeightCitations
Average ROIC (%)7.0% (50% payout) 9.0% (100% payout) 11.0% (200% payout) 60%
Average REBITDA Margin (%)43.0% (50% payout) 45.0% (100% payout) 48.0% (200% payout) 40%
  • Number of PSUs Granted:
    • Threshold: 6,789
    • Target: 13,578
    • Maximum: 27,156
  • Grant Date: February 7, 2023
  • Grant Date Fair Value: $2,160,124
  • Vesting Schedule: Vesting occurs at the end of a three-year performance period (2023–2025)
  • Maximum Payout Potential: 200% of the target

Restricted Stock Units (RSUs)

ItemDetailCitations
Number of RSUs Granted9,052
Grant DateFebruary 7, 2023
Grant Date Fair Value$1,440,083
Vesting ScheduleOne-third annual installments on each anniversary, subject to continued employment
Dividend EquivalentsPaid on unvested shares; forfeited if awards do not vest