Hertz CEO Koch to Step Down

PARK RIDGE, N.J. --- Hertz Corp. chairman and chief executive Craig Koch is leaving his post at the rental agency Jan. 1, 2007, after 34 years with the company, BusinessWeek reported.

Koch has been Hertz’s CEO since 1999 and the company’s chairman since 2004.

Ford Motor Co. announced in September, the sale of Hertz to the private equity group of Clayton, Dubilier & Rice, The Carlyle Group and Merrill Lynch Private Equity.

At the end of this year, Clayton partner George Tamke, will take over as chairman while Koch continues on as CEO until 2007, the report said.

Koch was head of North American rental-car operations when he took over as Hertz’s president and chief financial officer in 1993. He was CFO for seven years before becoming the company’s chief executive.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Car Rental Rates Up, Fleet Sales Down — Correlation?

Car rental companies’ recent fleet discipline is needed now more than ever.

Hertz, Avis Autonomy Partnerships: Good First Steps on a Long Path

Two new autonomous vehicle project partnerships bring the importance of fleet management to the fore.

An Inside Look at Car Rental in China

A trip to a new car rental convention in Guangzhou reveals a booming market, yet one facing unique challenges.

Job Finder: Access Top Talent. Fill Key Positions.

>