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Hertz Global Holdings, Inc. (HTZ) is a global leader in vehicle rental services, operating under the well-known brands Hertz, Dollar, and Thrifty. The company provides vehicle rental solutions and value-added services to customers across approximately 160 countries and jurisdictions. HTZ also generates revenue through vehicle sales and ancillary services, making it a key player in the mobility ecosystem.
- Americas RAC (Rental Car) - Offers vehicle rentals, including cars, crossovers, vans, and light trucks, along with value-added services in the U.S., Canada, Latin America, and the Caribbean.
- International RAC (Rental Car) - Provides vehicle rentals and value-added services primarily in Europe, as well as other regions outside the Americas, through company-operated and franchised locations.
- Value-Added Services - Sells additional products such as loss or collision damage waivers, theft protection, liability and personal accident/effects insurance coverage, premium emergency roadside service, and other ancillary offerings.
- Ancillary Revenues - Includes retail vehicle sales and royalty fees from franchisees, contributing a smaller portion to overall revenue.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Eric J. Leef Executive | Executive Vice President and Chief Human Resources Officer | None | Former HR leader at Atria Senior Living and GE Appliances; focuses on talent management and organizational development at HTZ. | |
Katherine Lee Martin Executive | Executive Vice President, General Counsel, and Corporate Secretary | None | Former Assistant U.S. Attorney and senior leader at X Corp.; oversees legal, government affairs, and sustainability at HTZ. | |
Kelly Galloway Executive | Senior Vice President and Chief Accounting Officer | None | CPA with over nine years at HTZ; oversees global accounting operations and compliance. | |
Sandeep Dube Executive | Executive Vice President and Chief Commercial Officer | None | Former COO at Intuit Mailchimp and EVP at Activision Blizzard; leads revenue management, marketing, and customer experience at HTZ. | |
Scott M. Haralson Executive | Executive Vice President and Chief Financial Officer | None | Former CFO of Spirit Airlines; joined HTZ to lead financial operations and business transformation. | |
W. Gil West Executive | Chief Executive Officer | Board Member at Virgin Galactic Holdings, Inc. and Forward Air Corporation | Former COO of Cruise LLC and Delta Air Lines; joined HTZ as CEO to drive strategic initiatives and operational excellence. | |
Andrew Shannahan Board | Director | Head of Research and Partner at Knighthead; Board Member at ATI Physical Therapy, Homer City Generating, Bowhunter Holdings, Knighthead Holdings, Birmingham City Football Club | Specialist in capital markets and restructuring; serves as Chair of HTZ's Governance Committee and member of the Compensation Committee. | |
Colin Farmer Board | Director | Senior Managing Director at Certares Management; Board Member at Internova Travel Group, AmaWaterways, Guardian Alarm, Mystic Invest, Avoya Travel, Certares Holdings | Investment expert with extensive board experience; contributes to governance and compensation matters at HTZ. | |
Francis "Frank" Blake Board | Director | Board Member at Unifi, Inc., Procter & Gamble, Macy's, Delta Air Lines, The Southern Company, Georgia Aquarium | Former Chairman and CEO of The Home Depot; brings decades of leadership experience in business and governance to HTZ. | |
Lucy Clark Dougherty Board | Director | Senior Vice President, General Counsel, and Board Secretary at Polaris Inc. | Former Deputy General Counsel at General Motors; provides expertise in legal and strategic matters to HTZ. |
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Given the headwinds you've mentioned in achieving the low-30s DOE per transaction day, especially with a smaller fleet size impacting scalability, what specific initiatives are you implementing to offset these challenges and how confident are you in meeting this target?
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With the fleet rotation leading to higher depreciation and losses on vehicle sales due to dropping MMR values in Q4, how does this impact your timeline to achieve a DPU below $300, and what measures are you taking to mitigate further risks associated with fleet valuation?
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Considering the pending litigation with undefined timing and outcomes that could affect liquidity, along with upcoming debt maturities and your low point of liquidity mid-year, what contingency plans are in place to manage potential financial strains and ensure adequate liquidity?
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The change in accounting treatment of airport lease expenses due to the Q3 impairment has increased noncash expenses in the near term. How does this affect your profitability and EBITDA guidance for 2025, and what strategies are you employing to offset these increased expenses in the short term?
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By reducing fleet size and exiting low-yielding, non-durable business to maximize RPU, how do you anticipate this strategy will impact your market share and overall revenue growth, and are you at risk of losing volume to competitors by deemphasizing certain customer segments?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Operates multiple brands including Avis, Budget, ZipCar, and Payless, and is identified as a principal competitor in the vehicle rental industry. Competition is based on factors such as vehicle availability, quality, price, service, reliability, rental locations, and product innovation. | |
Enterprise Holdings | Operates brands such as Enterprise Rent-A-Car Company, National Car Rental, and Alamo Rent A Car, and is highlighted as a key competitor in the vehicle rental industry. |
SIXT | Recognized as a principal competitor in the vehicle rental industry, competing on factors like service, price, and innovation. |
Local and regional vehicle rental companies | Compete with the company in various geographic markets, offering alternatives to global brands. |
Ride share companies | Represent a competitive force in the transportation sector, providing alternatives to traditional vehicle rentals. |
Peer-to-peer car sharing marketplaces | Compete by offering car sharing options, which serve as an alternative to traditional vehicle rental services. |
Recent press releases and 8-K filings for HTZ.
- On March 24, 2025, Hertz Global Holdings, Inc. finalized a Voting Agreement with CK Amarillo LP, detailing how CK Amarillo's Voting Securities are to be cast on stockholder matters.
- Under the agreement, CK Amarillo—beneficially owning 58.9% of the outstanding common stock as of June 28, 2024—must vote its excess securities in proportion with all other stockholder votes until its ownership falls below the 45% threshold and related repurchase programs conclude.
- The document also specifies procedures for confidential information sharing regarding acquisitions and dispositions of voting securities, along with provisions for requesting vote-specific waivers.
- Kelly Galloway, Senior VP and Chief Accounting Officer, announced her resignation on March 12, 2025 to pursue an opportunity outside the Company, remaining until the filing of the quarterly Form 10-Q for the period ending March 31, 2025.
- Scott M. Haralson, Executive VP and Chief Financial Officer, will assume the role of the principal accounting officer following Ms. Galloway’s departure.
- The management change was disclosed in a filed SEC Form 8-K, meeting regulatory disclosure requirements.
- Hertz Global Holdings, Inc. reported its filing of an 8-K disclosing the issuance of two series of Rental Car Asset Backed Notes (Series 2025-1 and Series 2025-2) with detailed principal and interest terms, including specific maturity dates (e.g., expected final payments in September 2029 for Series 2025-1 and September 2031 for Series 2025-2).
- The transaction outlines multiple classes of notes (Classes A, B, C, and D) with established subordination among them and provisions for potential early principal repayments upon triggering of specified amortization events.
- The net proceeds from these notes are intended to refinance outstanding debt and support future vehicle acquisition or refinancing activities, with the terms structured under the Base Indenture dated June 29, 2021.