Stock Ticker

  • Loading stock data...

Hertz Global Holdings, Inc. (NYSE:HTZ) Makes Changes To Spinoff Oriented Equipment Rental Business

Boston, MA 06/03/2014 (wallstreetpr) – The car rental company Hertz Global Holdings, Inc. (NYSE:HTZ) has proposed various changes in its system aimed at improving performance in the company and maximizing shareholder value. One of the changes taking place in the company is the spinoff of some assets so that a streamlined business with reduced financial burden can be created. The spinoff of assets is also expected to support cost-savings in the company.

True to the streamlining spirit, Hertz announced the spinoff of Hertz Equipment Rental Corp. The division rents a range of equipment that include air compressors, aerial lifts, earthmoving equipment, forklifts, power generators, trucks, trailers and pumps. Hertz Equipment Rental also rents products used in the entertainment industry. The business is due for spin off in early 2015.

New Appointment

In the latest move, Hertz Global Holdings, Inc. (NYSE:HTZ) has announced a new leader for the spinoff oriented Hertz Equipment Rental Corp. The company has selected Brian P. MacDonald as the new CEO of the equipment rental unit. Mr. MacDonald will take over the leadership of the equipment rental business from Lois I. Boyd, whose retires but who will remain as an adviser to ensure smooth transition and growth of the spun off unit.

Mr. McDonald is no stranger to top executive leadership and his track record is the kind that keeps investors hopeful. Prior to joining Hertz Global Holdings, Inc. (NYSE:HTZ), he was the President and CEO of Sunoco Inc, a company that was acquired two years ago by Energy Transfer Partners in a $5.3 billion transaction. Mr. McDonald also served at Dell Inc in the capacity of vice president and chief financial officer. His stint at Dell Inc saw him lead various merger and acquisition deals in the computer company.

Sound Leadership And Business Plan

In spinning off the equipment rental business, Hertz Global Holdings, Inc. (NYSE:HTZ) is seeking nothing but maximization of shareholder value. The parent company expects to benefit from debt reduction and a boost to shares buyback program through the $2.5 billion spinoff transaction.

The spinoff targeted Hertz Equipment Rental Corp has 335 branches across the world.

Published by Brendan Byrne

While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. You may contact Brendan via his email ([email protected]) or his Google+ page (https://plus.google.com/u/0/116608759701551457422).

  • Recent Stories

    SignUp Now For Our Featured Newsletter

    Sign Up To Get Our Latest Stocks Alerts