Tom Kennedy Appointed Hertz CFO
PARK RIDGE, N.J., Dec. 2, 2013 /PRNewswire/ -- The Hertz Corporation (NYSE: HTZ) announced today that Thomas (Tom) C. Kennedy has been appointed Senior Executive Vice President and Chief Financial Officer, effective December 9, 2013. David J. Rosenberg, who has been serving as interim Chief Financial Officer since October 1, 2013, will assist Mr. Kennedy during a transition period, before taking on another senior role in the Company's Finance area.
Mr. Kennedy has been serving as Executive Vice President and Chief Financial Officer of Hilton Worldwide, Inc. since 2008. In this capacity, he has been instrumental in driving the transformation of Hilton including balance sheet restructuring and deleveraging initiatives, financial planning and forecasting process improvements, and companywide efficiency programs, all leading to significant shareholder value creation. From 2003 through 2007, Mr. Kennedy served as Executive Vice President and Chief Financial Officer for the Vanguard Car Rental Group (National Car Rental and Alamo Rent-A-Car brands). He was part of the senior leadership team which engineered the transformation and ultimate sale of Vanguard's European business to Eurazeo and the sale of the North American business to Enterprise Rent-a-Car. At Hilton and Vanguard, Mr. Kennedy also helped lead headquarter relocation initiatives. From 1992 through 2003, Mr. Kennedy worked for Northwest Airlines, Inc. in numerous roles with increasing management responsibility, primarily in the company's financial areas, including serving two years as the financial controller for Asia based in Tokyo, Japan. Mr. Kennedy was Senior Vice President and Controller when he left Northwest for Vanguard in 2003. He holds a BA degree in Economics, summa cum laude, from Tulane University and an MBA from Harvard University.
"Tom has demonstrated excellent leadership skills in two previous CFO assignments with multi-national, travel industry companies," said Hertz Chairman and Chief Executive Officer Mark P. Frissora. "His experience will be invaluable at Hertz as we continue to integrate Dollar Thrifty and evaluate strategic options and future capital deployment strategies going forward," Frissora added.
SOURCE The Hertz Corporation