: Hertz Chairman O’Hara steps down from the board, to be succeeded by CEO Scherr

Hertz Global Holdings Inc. HTZ said Wednesday that Chairman Greg O’Hara was stepping down from the auto rental company’s board of directors after 18 months in the role. O’Hara is the founder of Certares Opportunities LLC, which was one of the principals that led Hertz through its bankruptcy, which it emerged from in June 2022. Hertz Chief Executive Stephen Scherr will assume the chairman role. Certares’ Senior Managing Director Colin Farmer will continue as lead director of Hertz’s board, and Thomas Wagner, managing partner of fellow principal Knighthead Capital Management LLC, will remain as vice chairman. Separately, Fran Bermanzohn, a former deputy general counsel at Goldman Sachs, and Jeffrey Nedelman, a senior managing director at Certares, will join Hertz’s board as independent directors. Hertz’s stock, which rose 1.4% in premarket trading, has slipped 2.7% over the past three months through Tuesday while the S&P 500 SPX has gained 7.3%.

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