UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol(s) |
Name
of Each Exchange on which Registered | ||||
| Hertz Global Holdings, Inc. | ||||||
| The Hertz Corporation | None | None | None |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(b) Kenny Cheung, Executive Vice President, Chief Financial Officer of Hertz Global Holdings, Inc. (the “Company”) informed the Company on March 21, 2023 of his intent to resign from the Company, effective April 14, 2023 to pursue another opportunity. He will step down from his role as Chief Financial Officer on April 1, 2023 and remain with the Company in a non-executive capacity until the effective date of his resignation to facilitate a transition of his duties.
(c) The Company has appointed Alexandra Brooks, 52, Senior Vice President and Chief Accounting Officer to the additional role of interim Chief Financial Officer, effective April 1, 2023. Ms. Brooks joined the Company in June 2020 as its Senior Vice President, Internal Audit and was promoted to Senior Vice President and Chief Accounting Officer in October 2020. Prior to joining the Company, Ms. Brooks was the Vice President, Internal Audit at Aptiv PLC (“Aptiv”), a global technology company, beginning in May 2015. Before joining Aptiv, Ms. Brooks was the Chief Financial Officer for Champion Windows and Home Exteriors, a home improvement company, from 2013 to 2015.
The selection of Ms. Brooks to serve as interim Chief Financial Officer was not pursuant to any arrangement or understanding with respect to any other person. There are no family relationships between Ms. Brooks and any director or executive officer of the Company, and there are no transactions between Ms. Brooks and the Company that would be required to be reported under Item 404(a) of Regulation S-K.
| Item 7.01 | Regulation FD Disclosure. |
On March 27, 2023, the Company issued a press release regarding this information, a copy of which is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
In accordance with General Instruction B.2 of Form 8-K, the information included in this Item 7.01 and Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liabilities of Section 18 of the Exchange Act. The information in this Item 7.01 and Exhibit 99.1 hereto shall not be incorporated by reference into any filing or other document filed by the Company with the SEC pursuant to the Securities Act of 1933, as amended, the rules and regulations of the SEC thereunder, the Exchange Act, or the rules and regulations of the SEC thereunder, except as shall be expressly set forth by specific reference in such filing or document.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit | Description | |
| 99.1 | Press Release of Hertz Global Holdings, Inc. dated March 27, 2023. | |
| 104.1 | Cover page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| HERTZ GLOBAL HOLDINGS, INC. THE HERTZ CORPORATION | ||
| (each, a Registrant) | ||
| Date: March 27, 2023 | By: | /s/ Colleen Batcheler |
| Name: | Colleen Batcheler | |
| Title: | Executive Vice President, General Counsel and Secretary | |
Exhibit 99.1
Hertz Announces Departure of Chief Financial Officer
ESTERO, Fla., March 27, 2023 – Hertz Global Holdings, Inc. (Nasdaq: HTZ) today announced that it has appointed Alexandra Brooks, its Chief Accounting Officer, as interim Chief Financial Officer effective April 1, 2023. Ms. Brooks will replace Kenny Cheung, who is leaving the company to pursue another professional opportunity in a different industry.
Hertz is initiating a formal search process for the selection of its permanent Chief Financial Officer. Mr. Cheung will remain at the company until April 14, 2023, to support the first quarter financial closing process and ensure an orderly transition to Ms. Brooks.
“I would like to thank Kenny for his contributions to Hertz and we wish him the best in his future endeavors,” said Stephen Scherr, Chair and Chief Executive Officer of Hertz.
“It has been a privilege to be the CFO of Hertz over the last two and a half years and to close my career at the company on a positive note at the end of this quarter,” said Kenny Cheung. “I am confident that under Stephen’s leadership, Hertz is well-positioned to deliver on its strategic priorities and create long-term value for shareholders.”
About Hertz
The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands throughout North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies, and the Hertz brand is one of the most recognized globally. Additionally, The Hertz Corporation operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales. For more information about The Hertz Corporation, visit www.hertz.com.
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Contact: Hertz Media Relations, mediarelations@hertz.com