Hertz Adds New Executives
November 12 2015 - 10:00AM
Dow Jones News
Hertz Global Holdings Inc. said Thursday its equipment-rental
division added two new members to its senior leadership as the
business gears up to become an independent company by the middle of
next year.
Barbara Brasier was named senior vice president and chief
financial officer of Hertz Equipment Rental Corp., effective Nov.
9. In addition to overseeing finances, she will "play a lead role
in positioning HERC in the capital markets and developing
relationships with banks, ratings agencies, institutional investors
and financial analysts," the company said.
Ms. Brasier joins Hertz with 35 years of experience in finance,
including various roles across public accounting, paper-goods,
machinery and industrial-equipment and food-manufacturing
industries. Most recently, she was senior vice president of tax and
treasury for Mondelez International Inc., the food company made up
of the global snacking and food brands that were spun off from the
former Kraft Foods Inc.
Maryann Waryjas was named senior vice president and general
counsel. She will oversee HERC's corporate governance and statutory
reporting requirements leading up to and after HERC becoming a
stand-alone public company.
"With Barb and Maryann on board, HERC now has a full C-level
team with substantial managerial and governance experience," said
Hertz Equipment Rental Chief Executive Larry Silber, who noted the
spinoff remains on track for mid-2016.
Mr. Silber said that in the past five months the company has
added "considerable depth and breadth" to its senior management
team with about 20 new staff members in field operations, sales, IT
and finance.
Hertz announced in March of last year its plans to spin off its
rental equipment company, which serves the construction, industrial
and oil and gas markets, among others.
Earlier this week, Hertz said its third-quarter profit soared
59% as the company emerges from recent accounting woes, though
revenue fell short of expectations on currency effects.
In July, Hertz, which operates its namesake brand as well as
Dollar and Thrifty, completed restating its financials, a process
that cut its profit by about $58 million in 2012 and $51 million in
2013. The company, whose shares have dropped 35% this year, has
been trying to turn things around. Hertz named John Tague as chief
executive in November and said in May that it planned to raise
rental rates.
Write to Anne Steele at Anne.Steele@wsj.com
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(END) Dow Jones Newswires
November 12, 2015 10:45 ET (15:45 GMT)
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