The Hertz Corp. has named Brian MacDonald CEO of the Hertz Equipment Rental Corp., replacing president Lois Boyd, who has chosen to retire. MacDonald, formerly chairman, president and CEO of Sunoco Inc., will lead HERC’s transition into a new publicly traded company following its planned separation from Hertz, which is expected to close by early 2015.
“Brian MacDonald brings exceptional, executive-level experience in successfully leading major corporations through periods of significant growth and change,” said Mark Frissora, Hertz chairman and CEO. “This record, combined with his financial acumen as well as his operational and international expertise, makes him the ideal successor to lead HERC through its next phase of growth and development as a stand-alone, publicly traded company.”
“I am delighted to join Hertz Equipment Rental Corporation at this exciting time in the company’s 49-year history,” said MacDonald. “I look forward to working with HERC’s management and talented employees.”
“Throughout her seven-year career with Hertz, Lois Boyd has demonstrated strong leadership and an enduring commitment to our company and mission,” added Frissora. “Under her stewardship since 2011, HERC has delivered three consecutive years of revenue and earnings growth, and margin improvements. She had an equally strong record leading Advantage Rent-a-Car, a value brand previously owned by Hertz, and our companywide cost management programs, which have generated over $3 billion of savings since 2007.”
Boyd will continue with HERC in an advisory capacity.
MacDonald most recently worked as president and CEO of ETP Holdco Corp., an entity formed following Energy Transfer Partners’ $5.3 billion acquisition of Sunoco in 2012. MacDonald joined Sunoco in 2009 as senior vice president and chief financial officer. Prior to joining Sunoco, MacDonald worked at Dell Inc. as chief financial officer of the Large Enterprise Business Unit, overseeing all aspects of its financial management. MacDonald also led Dell’s mergers and acquisitions organization and headed the company’s global treasury group, with operations in the United States, Iceland and Singapore.
MacDonald also served in several financial management roles at General Motors Corp.
Based in Naples, Fla., HERC is No. 3 on the RER 100.