This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Hertz Announces New Chief Executive Officer For Hertz Equipment Rental Corporation

NAPLES, Fla., June 2, 2014 /PRNewswire/ -- The Hertz Corporation (NYSE: HTZ), today announced that Brian P. MacDonald, formerly Chairman, President and Chief Executive Officer of Sunoco, Inc., has been appointed Chief Executive Officer of Hertz Equipment Rental Corporation (HERC).  As part of his responsibilities, MacDonald will lead HERC's transition into a new, publicly traded company following its planned separation from Hertz, which is expected to close by early 2015.  Mr. MacDonald succeeds Lois I. Boyd, who has been with Hertz since 2007. Ms. Boyd has previously informed the company of her decision to retire her full time position after a 41-year career although she has agreed to continue with HERC in an advisory capacity.

The Hertz Corporation.

" Brian MacDonald brings exceptional, executive-level experience in successfully leading major corporations through periods of significant growth and change," said Mark P. Frissora, Hertz Chairman and Chief Executive Officer. "This record, combined with his financial acumen as well as his operational and international expertise, make him the ideal successor to lead HERC through its next phase of growth and development as a stand-alone, publicly traded company."

MacDonald said: "I am delighted to join Hertz Equipment Rental Corporation at this exciting time in the company's 49-year history.  HERC benefits from one of the youngest and most balanced fleets in the industry, a diverse product portfolio, operational efficiencies, and a broad geographic footprint.  I look forward to working with HERC's management and talented employees to build on these strengths and further bolster the company's premier position in the equipment rental industry."

Frissora continued: "Throughout her seven year career with Hertz, Lois Boyd has demonstrated strong leadership and an enduring commitment to our company and mission. Under her stewardship since 2011, HERC has delivered three consecutive years of revenue and earnings growth, and margin improvements. She had an equally strong record leading Advantage Rent-a-Car, a value brand previously owned by Hertz, and our companywide cost management programs, which have generated over $3 billion of savings since 2007. Lois approached me several months ago about her intention to retire. I am grateful she agreed to help us make significant progress on the separation of HERC and RAC, and to assist with Brian MacDonald's transition. We appreciate all that Lois has done for Hertz and wish her the very best in her well-earned retirement."

About Brian P. MacDonald MacDonald most recently served as President and Chief Executive Officer of ETP Holdco Corp., an entity formed following Energy Transfer Partners' $5.3 billion acquisition of Sunoco, Inc. in 2012, where MacDonald had served as Chairman, President and Chief Executive Officer prior to ETP's acquisition of Sunoco. MacDonald joined Sunoco in 2009 as Senior Vice President and Chief Financial Officer. During his tenure with Sunoco, the Company undertook a substantial restructuring to strengthen and transform the organization and better position it for growth.  Sunoco exited unprofitable operations, significantly reduced costs, improved efficiencies, and refocused on established high-return businesses. 

Prior to Sunoco, MacDonald worked at Dell, Inc. as Chief Financial Officer of the Large Enterprise Business Unit, overseeing all aspects of its financial management. Before becoming the unit's CFO in 2008, he served as Dell's corporate Vice President and Treasurer. In this role, MacDonald led Dell's mergers and acquisitions organization and headed the Company's global treasury group, with operations in the United States, Ireland and Singapore.

Prior to Dell, MacDonald served in several financial management roles at General Motors Corporation, including at Isuzu Motors Limited, a $12 billion Japanese public company that was 49 percent owned by General Motors at the time and Treasurer of GM Canada, a $28 billion operating subsidiary.

MacDonald serves on the boards of directors of Ally Financial, Inc. and CSC (formerly Computer Sciences Corporation). He earned a Bachelor of Science from Mount Allison University and received a Masters in Business Administration from McGill University. 

About HERC On March 18, 2014, The Hertz Corporation announced that its Board of Directors approved plans to separate HERC and Hertz (including Dollar, Thrifty, Firefly and Donlen) into two independent, publically traded companies by early 2015. The separation is planned to be in the form of a pro-rata tax-free spin-off to shareholders.

Following the separation, HERC will remain one of the largest and most diversified equipment rental businesses in the world with approximately 335 branches in the United States, Canada, France, Spain, the United Kingdom, China, Qatar and Saudi Arabia, as well as through international franchisees. HERC rents a broad range of equipment, including aerial manlifts, air compressors and tools, earthmoving equipment and power generators, forklifts and material handling, pumps, and trucks and trailers. HERC also derives revenues from the sale of new and used equipment and consumables as well as through its Hertz Entertainment Services division, which rents lighting and related aerial products used primarily in the U.S. entertainment industry.

About Hertz Hertz operates its car rental business through the Hertz, Dollar, Thrifty and Firefly brands from approximately 11,555 corporate and licensee locations in approximately 145 countries in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the largest worldwide airport general use car rental brand, operating from approximately 10,090 corporate and franchisee locations in approximately 145 countries. Dollar and Thrifty have approximately 1,400 corporate and franchise locations in approximately 75 countries. Hertz is the number one airport car rental brand in the U.S. and at 130 major airports in Europe. Hertz is an inaugural member of Travel + Leisure's World's Best Awards Hall of Fame and was recently named, for the thirteenth time, by the magazine's readers as the Best Car Rental Agency. Hertz  also swept the global awards for Best Rewards Program and Best Overall Benefits from Product and service initiatives such as Hertz Gold Plus Rewards, NeverLost®, and unique vehicles offered through the Company's Adrenaline, Prestige, Green Traveler, and Dream Car Collections, also set Hertz apart from the competition. Additionally, Hertz owns the vehicle leasing and fleet management leader Donlen Corporation and operates the Hertz 24/7 hourly car rental business. The Company also owns a leading global equipment rental business, Hertz Equipment Rental Corporation, which includes Hertz Entertainment Services. More information about the Company can be found at

Logo -


1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs