NAPLES, FL – Hertz Global Holdings Inc (“Hertz” or “the Company”) today issued the following statement:
The Hertz Board and leadership team value the views of all Hertz shareholders and welcome a constructive dialogue with them.
All of us at Hertz are focused on addressing the Company’s recent challenges.
While it will take time to complete the accounting review, we are making progress. We are in the process of implementing new procedures and controls, and we have made a number of important additions to the accounting and finance teams over the past few months.
We remain focused on the business and executing our operating initiatives. We have a good handle on the nature and scope of the issues in the business and are executing plans to resolve them.
Hertz also benefits from a solid foundation and clearly defined strategic priorities, including the planned separation of the Company’s equipment rental business into a separate, publicly traded company, which is advancing; the integration of Dollar Thrifty; expanding Hertz’s off-airport footprint; and building on the Company’s success with Donlen leasing.
As we address our challenges, we are confident that execution on these priorities, as well as the Company’s $1 billion share repurchase program, will drive enhanced performance and shareholder value.
We look forward to continuing our dialogue with all Hertz shareholders as we execute on these plans.