Hertz CEO Resigns: Stephen Scherr To Step Down on March 31 Due to EV Fiasco, Cruise Gil West to Replace Him
Hertz CEO Stephen Scherr will resign at the end of March 2024 following some electric. Hertz Global Holding, popularly known as ‘Hertz’, is one of the “Big Four” largest car rental companies worldwide, based in Esterno, Florida. Due to high repair costs and lagging resale of electric vehicles, Hertz has decided to replace its CEO with Gil West, former Chief Operating Officer of General Motors. After Hertz CEO Stephen Scherr resigns on March 31, Gil West will join the board of directors from April 1, 2024. The company reportedly acquired 1,00,000 Tesla, leading to a market valuation surge. However, with Tesla slashing prices, the resale value of the company was affected, leading to the prompted sale of 20,000 EVs out of its depreciating vehicles by December. Microsoft CEO Satya Nadella Announces Microsoft and NVIDIA Partnership Expansion To Accelerate Generative AI for Enterprises.
Hertz CEO Stephen Scherr Steps Down Amid EV Fiasco:
Monday, March 18, 2024#Hertz #CEO #Resigns After @ElectricVehicle Push Goes South @HERTZ @CEO STEPHEN SCHERR WILL #STEP_DOWN AT THE END OF #MARCH #Finance #rentalcar @EV @wireless_step @HRG_Media @LodiNJNews @Breaking911 @Breaking24_7 @gator4kb18 @MichelleF_35 @TrumpWasRite… pic.twitter.com/AVAodM2Wu4
— Art Fletcher (@ArtFletcher9) March 18, 2024
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