Hertz (NYSE:HTZ) is in the news Monday after announcing that Paul Stone is taking over as the new leader of the company.
Here’s what investors need to know about the new Hertz CEO.
- Stone will be taking over the CEO position from Kathryn Marinello.
- Marinello will be sticking around for a year as a consultant to make sure the change in leadership goes over well.
- To go along with his new position as CEO, he’s also joining the Board of Directors at Hertz.
- Stone was most recently the executive vice president and chief retail operations officer for Hertz North America.
- Before joining Hertz, Stone served in executive positions at Walmart (NYSE:WMT) and Cabela’s.
- While at Cabela’s, he filled the roles of senior vice president and chief retail officer.
- He spent 28 years at Sam’s Club and Walmart, starting out as a store manager.
- Over time, he moved up in the company to become the senior vice president of its Western U.S. division.
Here’s what Paul Stone had to say in a news release about his new role as CEO of Hertz.
“It is a tremendous honor to have the opportunity to lead Hertz. I thank Kathy and look forward to working with my colleagues to do what Hertz people do best – anticipate where transportation, mobility and technology are going and innovate to best serve our customers, stakeholders and communities.”
HTZ stock was up 19.9% as of Monday afternoon. However, its down 83.6% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.