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HERTZ GLOBAL: Announces Changes in Finance Leadership

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Hertz Global Holdings, Inc. (NYSE: HTZ), a global leader in car rental, in mid-August announced that Chief Financial Officer (CFO) Jamere Jackson, has resigned to pursue a new opportunity. Mr. Jackson will remain with Hertz until September 11, 2020, to assist in the transition of his responsibilities.

The Company also announced the promotion of R. Eric Esper to Executive Vice President of Finance, Chief Financial Officer, and Kenny K. Cheung to Executive Vice President of Finance, Chief Operational Finance and Restructuring Officer, effective immediately. They will report directly to Paul Stone, Hertz’s President and Chief Executive Officer, as will the Company’s Treasurer, Scott Massengill.

Mr. Esper has served as Senior Vice President and Chief Accounting Officer of Hertz since November 2018. He previously served as Vice President and Controller of the Company beginning March 2018. From July 2010 to March 2018, Mr. Esper held a variety of financial leadership roles with Norwegian Cruise Line Holdings Ltd., most recently as Vice President, Brand Finance & Strategy, and Vice President and Controller. Prior to that, Mr. Esper was with PricewaterhouseCooper, LLC. He is a Certified Public Accountant.

Mr. Cheung has served as Senior Vice President of Global Financial Planning & Analysis and Chief Financial Officer of North America at Hertz. He joined the Company in December 2018. He previously held a variety of financial leadership roles with Nielsen Holdings, PLC, an information, data and measurement firm, most recently as Global Chief Audit Executive, and prior to that as a regional Chief Operating Officer after holding the position of regional Chief Financial Officer. Prior to Nielsen, Mr. Cheung worked for General Electric in various roles across Supply Chain, Operations, and FP&A.

Mr. Massengill has served as Senior Vice President and Treasurer of Hertz since July 2008. Prior to joining Hertz, Mr. Massengill served as Chief Financial Officer for the $2 billion domestic residential heating and air conditioning business division of Trane Inc. (formerly American Standard Companies Inc.) from 2005 to 2008. Prior to that, he was Vice President and Treasurer at American Standard from 2001 to 2005. Mr. Massengill has also held management level financial positions at Bristol–Myers Squibb, AlliedSignal and Exxon.

“The finance function is extremely important. This leadership structure provides us with deep expertise that will be especially valuable as we navigate the uncertainty around travel that the global pandemic has produced and as we work our way through the bankruptcy process,” said Stone. “We’re fortunate to have incredible bench strength on our Finance team. I’ve worked closely with Eric, Kenny and Scott for several years, and appreciate the value they add through the different perspectives they bring, while remaining tightly aligned on vision and strategy.”

About Hertz Global Holdings

Hertz Corp. and its subsidiaries operate a worldwide vehicle rental business under the Hertz, Dollar, and Thrifty brands, with car rental locations in North America, Europe, Latin America, Africa, Asia, Australia, the Caribbean, the Middle East, and New Zealand. The Company also operates a vehicle leasing and fleet management solutions business.

On May 22, 2020, The Hertz Corporation and certain of its U.S. and Canadian subsidiaries and affiliates filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court (Bankr. D. Del. Case No. 20-11218).

The Hon. Mary F. Walrath is the presiding judge.

White & Case LLP is serving as legal advisor, Moelis & Co. is serving as investment banker, and FTI Consulting is serving as financial advisor. Richards, Layton & Finger, P.A., is the local counsel.

Prime Clerk LLC is the claims agent, maintaining the page https://restructuring.primeclerk.com/hertz