Published on : Thursday, May 21, 2020
With immediate effect,Hertz Global Holdings has named Paul Stone as president and chief executive.
Stone in the most recently role was the executive vice president and chief retail operations officer, North America, with the car rental giant, has also been elected to the Hertz board of directors.
Stone succeeds Kathryn Marinello, who plans to continue with the company in a consulting position for up to one year to support a smooth transition.
After the company narrowly staved off bankruptcy earlier this month, striking a deal with lenders after missing debt payments they came to the decision.
Henry Keizer, Hertz chairman said that after an ongoing succession planning process, the board elected Paul to lead Hertz’s next chapter.Paul brings a customer-cantered approach to growing the business that is driven by process excellence and employee engagement.
After successfully running their largest business segment for the last two years, Paul helped strengthen their brands by elevating service standards across the North American car rental operations.
Stone, 50, began his 28-year career with Sam’s Club/Walmart as a store manager and was quickly elevated through the ranks to western United States divisional senior vice president.
He led operations for upwards of 200 locations with more than 30,000 employees.