Subscribe to Breaking News emails

You have successfully subscribed to the Breaking News email.

Subscribe today to be the first to to know about breaking news and special reports.

Hertz CEO Steps Down After Accounting Errors

 / Updated  / Source: Reuters

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.

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.

SOCIAL

-Reuters

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.
MORE FROM news

Have feedback?

How likely are you to recommend nbcnews.com to a friend or colleague?

0 = Very unlikely
10 = Very likely
Please select answer

Is your feedback about:

Please select answer

Leave your email if you’d like us to respond. (Optional)

Please enter a valid email address

Thank you!

Your feedback has been sent out. Please enjoy more of our content.

We appreciate your help making nbcnews.com a better place.