Hertz Names Former Goldman Executive as New CEO

Hertz on Friday morning announced that Stephen M. Scherr, the former Goldman Sachs CFO, is joining the car rental company as its new CEO.

Scherr will assume his role as CEO on Feb. 28, 2022. He takes over for interim chief Mark Fields, the former Ford CEO who joined Ford in November 2021.  

“Hertz is an extraordinary brand and a resilient business that is perfectly positioned to reshape how people move about in a safe, convenient, affordable, and more environmentally-friendly way,” Sherr said in a statement announcing his new role.

“I am thrilled to join Hertz and lead the team as we put our customers at the center of our business and partner with those who believe in our vision for the future of mobility.”

Scherr spent almost 30 years at Goldman, where he helped build Marcus by Goldman Sachs, the bank’s direct consumer banking brand, and the Goldman AppleCard. Hertz said his experience launching digital consumer businesses and building business partnerships makes him the perfect candidate to lead Hertz into 2022 and beyond.

“Stephen is the leader Hertz needs to grow our business and to have a formidable position in the future of mobility and fleet management,” Hertz chairperson and senior managing director at Certares Greg O’Hara said. “He is a proven strategist, innovate, and leader with a track record of earning customer loyalty.”