Emmanuel Delachambre, who was previously chairman and CEO at GEFCO France, will join Hertz on Oct. 5.
According to the Wall Street Journal, at least seven retired Hertz executives are condemning the company's plan to issue bonuses to upper management.
Hertz Global Holdings has considered selling it’s Donlen leasing business if it can get at least $1 billion and has several buyers interested in the fleet management company, chiefly private equity funds, according to a report from Bloomberg.
R. Eric Esper has served as senior vice president and chief accounting officer of Hertz since November 2018.
The plaintiffs are suing Hertz for "maliciously turning potential civil disputes about payment … into criminal theft reports and prosecutions.”
The settlement suspends litigation with debtors. Hertz agrees to pay $650 million and dispose of at least 182,521 leased vehicles by December 31.
A dragged-out post-lockdown recovery, a huge debt pile, and the potential for zero recoveries for unsecured creditors make the Hertz bankruptcy a likely liquidation, says Wall Street analyst Girish Bhise.
Hertz was advised by the SEC’s Division of Corporation Finance that it intended to review the plan, at which point the plan was suspended.
Data suggests that the COVID-19 lockdown has spurred a new wave of enthusiasm for staycations and road trips, and more Europeans would prefer to avoid public transportation due to safety concerns.
