05.06.2014

New CEO selected for Hertz Equipment

Hertz has appointed Brian MacDonald as chief executive of its equipment rental operations, with responsibility for separating the business from the car rental company.

MacDonald was previously chief executive of Sunoco and succeeds Lois Boyd, who had previously announced her decision to retire after a 41-year career. She has agreed to continue in an advisory capacity.
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Brian MacDonald

Prior to Sunoco MacDonald was chief financial officer at Dell computer’s Large Enterprise Business Unit and had previously led Dell’s mergers and acquisition group. Before joining Dell he served in several financial management roles at General Motors, including a spell at Isuzu Motors and as treasurer of GM Canada.

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

MacDonald added: "I am delighted to join Hertz Equipment at this exciting time in the company's 49-year history. The company 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 the 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, Hertz Equipment 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."