Hertz announced today that Gerald Plescia, president, Hertz Equipment Rental Corp., has retired from the company. Mark Frissora, chairman and CEO, assumes temporary senior management responsibility for HERC until a successor is named after an internal and external search. Hertz expects to conclude the search within the next 90 days.
"During his 32-year Hertz career, Gerry has made many significant contributions to our car and equipment rental businesses, the past 14 years serving as president of HERC,” Frissora said. “Gerry helped lead HERC through two deep recessions during the past decade and he leaves the business with an improved internal organization that is realizing significant revenue growth opportunities. As a result, HERC has made a solid contribution to our fourth quarter 2010 results and we expect HERC to generate double-digit revenue growth and achieve a corporate EBITDA margin of 42 percent for the full year 2011.
"HERC's seasoned management team, at the operational and staff levels, is committed to optimizing their many growth and efficiency opportunities. They will continue to focus on providing the best possible service and equipment rental solutions to HERC's expanding range of industrial, construction and other customers."
Park Ridge, N.J.-based Hertz Equipment Rental Corp., with 320 branches in the United States, Canada, China, France, Spain and Italy, is No. 4 on the RER 100.
