Hertz has appointed Kathryn Marinello as president and chief executive.

She will take up the roles on January 3rd next year, as John Tague retires from the company.

At the same time, Hertz also announced that its three longest serving directors, non-executive chair Linda Fayne Levinson, compensation committee chair Carl Berquist, and financing committee chair Michael Durham have chosen to leave the company.

Following their departure, the Hertz board will have seven directors, six of whom are independent under the New York Stock Exchange listing rules.

On the new role, Marinello said: “I am honoured to have been selected to lead Hertz to its full potential at a time of unprecedented opportunity for the Companies.

“I look forward to partnering with Hertz employees as we work to earn sustained industry leadership for the benefit of our shareholders, customers and team members.”

Marinello is a veteran public company chief executive who brings a strong mix of industry experiences that cover many facets of the automotive industry, from OEM to automotive insurance and automotive fleet financing.

Carl Icahn, chairman of Icahn Enterprises, the company’s largest shareholder, commented: “I am excited about Hertz and its prospects with Kathy
at the helm. 

“Kathy has a history as a proven chief executive and I believe she is the right person to lead Hertz as we move forward.

“Her consistent track record of successes in consumer and financial services, as well as technology businesses, is impressive.

“She was extremely well-regarded at GE and successfully turned around Ceridian and Stream.”