Hertz names former Ford CEO Mark Fields as interim CEO

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Oct 5 (Reuters) – Hertz Corp (HERTZ.UL) has named former Ford Motor Co (F.N) Chief Executive Mark Fields as its interim CEO, the rental automotive firm mentioned on Tuesday.

Fields succeeded Alan Mulally as president and CEO of the No. 2 U.S. automaker in 2014. He was ousted in 2017 and changed by Jim Hackett.

Hertz Corp, a subsidiary of Hertz Global Holdings(HTZZ.PK), operates the Hertz, Thrifty and Dollar rental automotive manufacturers.

Fields joined the Hertz board of administrators in June. He is also a member of Qualcomm’s (QCOM.O) board of administrators and is a senior advisor to TPG Capital (TPG.UL).

At Hertz, Fields succeeds Paul Stone, who turns into president and chief operations officer, the corporate mentioned.

In May, Hertz mentioned a gaggle of buyers together with Knighthead Capital Management, Certares Opportunities and Apollo Capital Management would fund the corporate’s exit from Chapter 11 chapter.

The 103-year-old rental automotive firm was as soon as owned by General Motors (GM.N), which resold it to earlier proprietor John Hertz in 1953. Subsequent house owners included RCA, United Airlines mum or dad UAL Corp and Ford, which bought the enterprise in 2005 to non-public fairness agency Clayton, Dubilier & Rice.

Reporting by Paul Lienert in Detroit; Editing by Will Dunham

A passenger wearing a protective mask passes in front of a counter of the car rental company Hertz in Mexico City, Mexico, June 11, 2020. REUTERS/Edgard Garrido

The desk of car rental company Hertz is seen at Nice International airport in Nice, France, May 27, 2020. REUTERS/Eric Gaillard

Ford Motor Company CEO Mark Fields speaks at the 2017 New York International Auto Show in New York City, U.S. April 12, 2017. REUTERS/Brendan Mcdermid