Hertz Names Former Goldman Sachs Exec Scherr CEO

Car rental company Hertz has named former Goldman Sachs CFO Stephen Scherr its new CEO, effective Feb. 28, the company announced Friday. He will take over from interim CEO Mark Fields, the former Ford chief who joined the company’s leadership team last October.

Hertz last year emerged from Chapter 11 bankruptcy after restructuring and receiving new funding from Knighthead Capital Management, Certares Opportunities and Apollo Capital Management.

Scherr will lead a workforce of nearly 25,000 as the company continues to evolve to “execute on its core priorities of shared mobility, electrification and a digital-first customer experience by combining its expertise in fleet management with new technology and a history of innovation.”

Scherr departed Goldman Sachs at the end of 2021 after spending nearly three decades with the company, where he was the principal architect and leader of the bank’s new consumer business, helped build Marcus by Goldman Sachs and led the launch of AppleCard, according to Hertz.

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