Reuters logo
UPDATE 1-Hertz Global names John Tague as CEO
November 20, 2014 / 10:55 PM / 3 years ago

UPDATE 1-Hertz Global names John Tague as CEO

(Adds details, background)

Nov 20 (Reuters) - U.S. car rental company Hertz Global Holdings Inc named John Tague as chief executive, overlooking a candidate put forward by activist investor Jana Partners.

Jana Partners had pushed for Dollar Thrifty CEO Scott Thompson as a candidate for the job but top shareholder Carl Icahn backed Tague, a former chief operating officer of United Airlines Inc.

Hertz had formed a search committee including two independent directors nominated by Icahn to find a replacement for Mark Frissora, who resigned in September.

“...The Committee and the Board unanimously selected John Tague as the next CEO of Hertz,” said Icahn, who holds 8.48 percent of Hertz.

Jana, which owns an 8.3 percent stake in the company, was not immediately available to comment.

Tague was most recently the CEO of transportation and logistics provider Cardinal Logistics Holdings.

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 withdrew its full-year financial forecast in August. (Reporting by Supantha Mukherjee in Bangalore and Svea Herbst-Bayliss in Boston; Editing by Sriraj Kalluvila and Don Sebastian)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below