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SouthBayDem

(33,359 posts) Mon Mar 18, 2024, 11:48 PM Mar 2024

Hertz CEO out following electric car 'horror show' [View all]

Source: CNN

New York (CNN) — Trouble and turmoil continue at rental car company Hertz.

The company, which announced in January it was selling 20,000 of the electric vehicles in its fleet, or about a third of the EVs it owned, is now replacing the CEO who helped build up that fleet, giving it the company’s fifth boss in just four years.

The company announced that Stephen Scherr, who came to the company two years ago after nearly 30 years at Goldman Sachs, is stepping down at the end of this month. He’ll be replaced by Gil West, former chief operating officer of Delta Air Lines and General Motors’ Cruise unit.

In the most recent quarter, Hertz took a $245 million hit to its earnings due to a drop in value of the EVs it was selling.

Read more: https://www.cnn.com/2024/03/18/business/hertz-ceo-departure-ev/index.html

33 replies

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Highlight:

Hertz CEO out following electric car 'horror show' [View all] SouthBayDem Mar 2024 OP

Who thought having "nearly 30 years at Goldman Sachs" qualified the clown to run a car rental company? PSPS Mar 2024 #1

This is rampant among these same recycled CEOs Johnny2X2X Mar 2024 #9

they had ex cosmestics execs running Air America pstokely Apr 2024 #33

Or like hiring one of the top guys at GE to run The Home Depot? jmowreader Mar 2024 #20

I just now stumbled across this excellent post. yonder Apr 2024 #22

GM's Cruise unit lost 8.2 billion dollars madville Apr 2024 #31

I can see why it didn't work Tree Lady Mar 2024 #2

Ditto here, we were afraid to rent an EV mainer Mar 2024 #13

It's certainly a learning curve for most drivers tinrobot Mar 2024 #15

The infrastructure doesn't currently exist to support people wanting to rent electric vehicles. Ace Rothstein Mar 2024 #19

Not to mention,, they wanted too much for daily rates TexasBushwhacker Apr 2024 #23

My son n law rented because Tree Lady Apr 2024 #25

I rented one back in March from Hertz, mostly from curiosity . . . hatrack Apr 2024 #27

"Hertz will pay $168 million to customers it falsely accused of stealing its cars" probably doesn't help. Idiots. flvegan Mar 2024 #3

That's the reason Hertz took a hit. Ray Bruns Mar 2024 #5

They're selling 2023 Chevy Bolts for the low 20's. NBachers Mar 2024 #4

They are all in Pleasanton, CA, wherever that is. It's Emile Mar 2024 #6

Try Replacing the zip code Richard D Mar 2024 #7

Thanks, I will try that. Emile Mar 2024 #8

I was able to find some in OKC ArkansasDemocrat1 Mar 2024 #17

I too found some in Northern Illinois. Emile Mar 2024 #18

It's in the San Francisco Bay area jmowreader Mar 2024 #21

Nice Johnny2X2X Mar 2024 #10

Used prices are dropping and once it's below $25K, there's a federal rebate. tinrobot Mar 2024 #16

The Bolt is an excellent EV Miguelito Loveless Mar 2024 #12

Whoa, Tesla Model 3 for $28,275 Polybius Mar 2024 #14

Not really a good deal madville Apr 2024 #30

Wonder how many EV sat there unrented day after day MichMan Mar 2024 #11

Did he get a bonus of millions when shown the door ? republianmushroom Apr 2024 #24

The new CEO isnt going to buy any EV now MichMan Apr 2024 #26

You all got it wrong. The Teslas were a great idea. Wonder Why Apr 2024 #28

If I was in a strange city looking to rent a car Aussie105 Apr 2024 #29

EV resale value has plummeted madville Apr 2024 #32