Mark Frissora has resigned as chief executive of Hertz Global Holdings Inc., citing personal reasons, as pressure from investors mounts following a series of accounting errors. Several investors and analysts named Scott Thompson, former CEO of Dollar Thrifty, as a possible candidate to lead the No. 2 U.S. car rental company. Brian MacDonald, CEO of Hertz's equipment rental business, which will soon be spun off, was named interim chief executive. Hertz has owned up to a string of accounting errors, originating in 2011, that will require it to restate or correct its financial results for the past three years. The company last month withdrew its full-year financial forecast. Frissora, 58, also stepped down as chairman. He was not available for comment. He presided over Hertz's buyout of Dollar Thrifty after a tussle with Avis Budget Group Inc. Disclosing an 8.5 percent stake in Hertz last month, activist investor Carl Icahn said he planned to quiz management over accounting issues.
Hertz CEO Steps Down After Accounting Errors
Mark Frissora has resigned as CEO of Hertz, citing personal reasons, as pressure from investors mounts following accounting errors.
/ Source: Reuters