GM Executive Kathryn Marinello Resigns to Become Hertz CEO
Today General Motors announced the resignation of Kathryn Marinello from the company’s Board of Directors, which follows her recent appointment as president and CEO of Hertz Global Holdings, which will begin January 3, 2017.
Marinello has served on GM’s board since July of 2009.
“On behalf of the board and the entire GM family, I’d like to personally thank Kathy for her many contributions to our company over the last seven years,” GM CEO Mary Barra said. “She brought us valuable insight and counsel in many areas, from automotive financing and IT to the voice of the customer. Kathy will definitely be missed, and we wish her all the best with her exciting new opportunity.”
Next month, Marinello will replace retiring Hertz Global CEO John P. Tague. Bringing her OEM experience to the world of rental car agencies.
“I am honored to have been selected to lead Hertz to its full potential at a time of unprecedented opportunity for the Companies,” Marinello said of her new position. “I look forward to partnering with Hertz employees as we work to earn sustained industry leadership for the benefit of our shareholders, customers and team members.”
“Kathy is a tireless leader whose record shows a relentless focus on execution and high performance, having led a number of complex businesses and turnaround situations,” said Hertz’s Henry R. Keizer, the newly elected Non-Executive Chair, on behalf of the Boards. “Her financial acumen and hands-on operating style will serve her well as she focuses on the strategic priorities facing Hertz today. Kathy is a world class leader who understands how to create shareholder value.”
Investor Carl C. Icahn, Hertz Global’s largest shareholder, commented, “I am excited about Hertz and its prospects with Kathy at the helm. Kathy has a history as a proven CEO and I believe she is the right person to lead Hertz as we move forward. Her consistent track record of successes in consumer and financial services, as well as technology businesses, is impressive. She was extremely well-regarded at GE and successfully turned around Ceridian and Stream.”