Hertz Corp., a subsidiary of Hertz Global Holdings Inc. (HTZZ), said it has named Mark Fields as interim chief executive, effective immediately. The rental-car company said Fields, who had joined Hertz's board of directors in June, is a senior adviser at TPG Capital and is a former CEO of Ford Motor Co. (F). Hertz's stock rallied 2.9% in morning trading. The company, which exited bankruptcy at the end of June, also named Paul Stone as its president and chief operations officer. Stone was formerly Hertz's CEO. Hertz's stock has lost 13.4% over the past three months, while shares of rival Avis Budget Group Inc. (CAR) have soared 55.7% and the S&P 500 has slipped 0.9%.
(END) Dow Jones Newswires
October 05, 2021 09:45 ET (13:45 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.