Christopher G. Berg
HERTZ GLOBAL HOLDINGSAbout Christopher G. Berg
Christopher G. Berg is Executive Vice President and Chief Administrative Officer at Hertz Global Holdings, Inc., appointed effective January 1, 2025, reporting to the CEO; in August 2025 he was designated to oversee the HR function during the CHRO transition . Company performance context during his tenure: Hertz reported Q3 2025 net income of $184 million and diluted EPS of $0.42; basic weighted-average shares outstanding were ~311 million . In 2024 (pre-hire context), Hertz implemented a “Back-to-Basics” transformation and delivered revenue of ~$9.0 billion, with an ~3% decline YoY, and reported a net loss of ~$2.9 billion and Adjusted Corporate EBITDA loss of ~$1.5 billion, while noting NPS gains and fleet rotation progress .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Hertz Global Holdings, Inc. | EVP, Chief Administrative Officer | Jan 1, 2025 – present | Administrative leadership; oversight of HR function during CHRO transition (Aug–Sep 2025) |
External Roles
No external board or professional roles were disclosed in company filings for Christopher G. Berg.
Fixed Compensation
| Component | Jan 1, 2025 | Sep 29, 2025 | Notes |
|---|---|---|---|
| Base salary ($) | $525,000 | $600,000 | Increase tied to additional responsibilities |
| Target annual incentive (% of salary) | 80% | 80% | Eligible under Hertz Executive Incentive Compensation Plan (EICP) |
| One-time cash sign-on ($) | $50,000 | — | Paid after 30 days of employment; repayment applies if early departure per offer letter |
| Perquisites | Company-provided vehicle | Company-provided vehicle (ongoing eligibility) | Vehicle use per executive policy |
Performance Compensation
| Award/Plan | Grant/Effective Timing | Target/Grant Value | Vesting/Mechanics | Key Terms |
|---|---|---|---|---|
| Sign-on RSU | On/around first day of quarter following hire | $1,500,000 | Vests one-third annually over 3 years | Subject to Compensation Committee approval |
| Annual LTIP (2025) | 2025 | $1,000,000 target | Mix and vesting per annual equity program | Grants subject to Committee approval |
| Annual LTIP (from 2026) | 2026 onward | $1,500,000 target | Per annual equity program | Committee discretion applies |
| Short-term EICP | Annual | 80% of salary target | Cash payout driven by plan metrics | Company-wide metrics and committee discretion |
EICP design (company-wide for 2024; reference program structure)
| Metric | Weighting | Threshold | Target | Maximum | 2024 Actual | 2024 Payout vs Target |
|---|---|---|---|---|---|---|
| Adjusted Corporate EBITDA ($mm) | 30% | 350 | 700 | 875 | (512) (adjusted for EICP/LTIP reporting) | 0% |
| DOE & SGA per Transaction Day | 30% | 40.78 | 39.93 | 39.51 | 41.79 | 0% |
| NPS (Hertz brand) | 20% | 27 | 30 | 35 | 28 | 50% |
| Board Discretion | 20% | 0 | 100 | 200 | 100 | 100% |
| Total Funding | — | — | — | — | — | 30% of target (weighted outcome) |
Equity Ownership & Alignment
| Item | Date/Period | Amount | Notes |
|---|---|---|---|
| Beneficial ownership (common shares) | Event date: Jun 26, 2025 (Form 3 filed Jul 7, 2025) | 525,908 | Footnote: RSUs vesting over 3 years; direct ownership form |
| Basic shares outstanding (for % calc) | Q3 2025 | 311 million | Basic weighted-average common shares outstanding |
| Ownership as % of shares outstanding | Q3 2025 basis | ~0.17% | 525,908 ÷ 311,000,000 |
| Hedging/Pledging | Policy | Prohibited for employees/officers/directors (Insider Trading Policy) | Aligns incentives; limits risk misalignment |
| Stock ownership guidelines | Policy | Executives (SVP+) must meet guideline multiples; NEOs: CEO 5x salary; other NEOs 3x; 5-year compliance window | Until targets met, sale of >50% of net shares from vesting/exercise is restricted |
Employment Terms
- Appointment: EVP & Chief Administrative Officer effective Jan 1, 2025; based in Atlanta, GA; reports to CEO .
- Compensation governance: Equity grants subject to Compensation Committee approval and Company’s Equity Grant Policy .
- Severance/Change-in-Control (Company program): Hertz maintains a Severance Plan for senior executives providing 1.5x base salary + target annual cash incentive, pro-rated annual incentive at actual achievement, up to 18 months continued health benefits, and up to $25,000 outplacement; benefits require release of claims and compliance with confidentiality, non-compete, non-solicit, and non-disparagement . Coverage for Berg specifically was not disclosed in filings.
- Clawbacks: Nasdaq-mandated clawback for incentive-based compensation upon accounting restatement (received on/after Oct 2, 2023), plus a Supplemental Clawback Policy for senior staff; 2021 Omnibus Plan includes clawback/forfeiture for misconduct (including restrictive covenant breaches) .
Performance & Track Record
- 2024 (pre-hire context): “Back-to-Basics” roadmap focused on fleet, revenue, and cost levers; complete fleet rotation underway; 60% of fleet ≤1 year old by year-end; NPS improved; revenue ~$9.0B (down ~3% YoY); DPU headwinds and EV fleet reduction; net loss ~$(2.9)B; Adjusted Corporate EBITDA loss ~$(1.5)B .
- EICP payout 2024: Plan funded at 30% of target (NPS and Board Discretion partially offset EBITDA and DOE/SGA misses) .
- 2025 progress (during Berg’s tenure): Q3 2025 net income of $184 million; diluted EPS $0.42 .
Compensation Structure Analysis
- Mix shift and risk: Berg’s comp is balanced across cash salary, annual bonus (80% target), and equity (sign-on RSUs; annual LTIP targets of $1.0M in 2025, rising to $1.5M from 2026), anchoring pay to performance and retention .
- Governance protections: Robust clawbacks; hedging/pledging prohibitions; equity grant committee oversight; stock ownership guidelines with sale restrictions until compliance .
- Vesting cadence: Sign-on RSUs vest one-third annually over 3 years, which schedules potential supply from vesting-related share delivery events .
Investment Implications
- Alignment: Equity-heavy design, stringent clawbacks, and hedging/pledging bans support alignment with shareholder outcomes and reduce asymmetric risk-taking .
- Retention: Compensation scale-up (salary to $600k; LTIP target to $1.5M from 2026) amid added responsibilities (HR oversight) suggests proactive retention emphasis; multi-year RSU vesting strengthens stickiness .
- Trading signals: RSU vesting events (one-third annually) can create predictable supply dynamics; ownership stands at ~0.17% of basic shares, indicating moderate “skin in the game” with room to grow against guideline frameworks .
- Performance sensitivity: EICP factors (EBITDA, cost per day, NPS, committee discretion) tie cash incentives to operational execution, highlighting near-term KPIs likely to influence payouts and management focus .