Hertz appoints Gil West as CEO

By Thomson Reuters Mar 15, 2024 | 4:32 PM

(Reuters) – Rental car firm Hertz said on Friday it has appointed Gil West as its chief executive officer, effective April 1.

West, who has previously served as chief operating officer of Delta Airlines and GM’s Cruise unit, will succeed Stephen Scherr, who has decided to step down as CEO and member of the Board.

The transition comes at a time when Hertz has been struggling with higher repair costs and weak demand for the electric vehicles it offers on rent.

Earlier this year, Hertz said it was selling about 20,000 electric vehicles, including Teslas, from its U.S. fleet and will instead opt for gas-powered vehicles.

Shares were down 2% at $7.43 in extended trade.

(Reporting by Pratyush Thakur in Bengaluru; Editing by Krishna Chandra Eluri)