By now, most people know that Hertz Equipment Rental is separating from the Hertz car rental section. The goal here is for both branches of the Hertz Corporation to better focus on their respective industries. In order to do this, however, the new Hertz Equipment Rental Corporation needs its own CEO.
The Hertz Corporation announced just this week that Brian P. MacDonald is going to be the new CEO of the equipment rental sector of Hertz. MacDonald was formerly the CEO and president of Sunoco, so the Hertz Corporation feels that he is overly qualified for the job.
MacDonald will be leading Hertz Equipment Rental Corporation into a new era. Part of the new overhaul of the equipment rental sector of Hertz is for it to be publicly traded. This is just part of the planned separation of the company from Hertz. This planned separation is expected to take place by the start of 2015.
MacDonald will succeed Lois Boyd, who has been with Hertz since 2007. Of course, this move should not come as a shock to anyone because Boyd stated some time ago that she planned to retire from a full-time position to just a part-time one at Hertz. Boyd, who has been a working woman for nearly 41 years, said that she will stay on as an advisor to the Hertz Equipment Rental Corporation.
The current CEO of the Hertz Corporation, Mark P. Frissora, said that MacDonald brings something special to the Hertz Equipment Rental Corporation. This is just what this sector needs during this huge change. His record makes him the best candidate to lead the new company into a phase of development and growth. This section of Hertz will now stand alone, and it needs a leader.
Frissora added that, throughout Boyd’s seven years with Hertz, she has been able to demonstrate a very strong leadership. While under her command, the equipment rental section of Hertz delivered three consecutive years of growth in earnings. She has also had a very strong record of leading the Advantage Rent-a-Car brand. Boyd approached Frissora several months ago to talk about her retirement from full time.
MacDonald said that he is overly delighted to be joining the Hertz Equipment Rental Corporation. He said that it is an exciting time in the company’s long 49-year history. The equipment rental business can benefit from having one of the most balanced and youngest fleets in the whole industry. It also has a very diverse portfolio of products. He added that he looks forward to taking over this new company and working closely with its very talented employees.