Hertz Announces CEO Resignation following Failed EV Strategy

Monday, 18 March 2024, 17:11

Hertz, a major player in the car rental industry, faces a leadership change as CEO Stephen Scherr resigns due to the company's unsuccessful shift towards electric vehicle rentals. The decision comes after Hertz encountered escalating costs and challenges with its EV venture, leading to a strategic reversal.

https://store.livarava.com/5bbf78d2-e550-11ee-967d-5254a2021b2b.jpe — Hertz Announces CEO Resignation following Failed EV Strategy

Hertz CEO Stephen Scherr Resigns

Hertz, a major global car rental company, has announced the resignation of CEO Stephen Scherr.

Big Bet on Electric Vehicles Fails

The company's ambitious plan to introduce electric vehicles into its rental fleet has encountered significant challenges.

Increasing Costs: Hertz faced rising expenses associated with EVs.
Strategic Reversal: The company decided to abandon its electric vehicle rental strategy.

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