Wayne West on corporate governance
From Hertz CEO · · FOX 4 Now
“The decision to replace the CEO and address the accounting issues head-on demonstrates Hertz’s dedication to accountability and long-term stability.”
On , Wayne West, Chief Executive Officer & Director at HERTZ GLOBAL HOLDINGS INC, spoke about corporate governance during Hertz CEO on FOX 4 Now.
About Wayne West
Wayne West, Chief Executive Officer and Director at Hertz Global Holdings, has commented on the resignation of former CEO Mark Frissora, who stepped down in 2014 citing personal reasons. West stated that the resignation was a pivotal moment for Hertz and that new leadership could bring fresh perspectives to the company's strategic direction. He also noted that accounting errors totaling over $46 million dating back to 2011 had raised concerns about financial oversight, and that the company was committed to restoring transparency and trust. West remarked that the market's initial positive reaction to the resignation, with shares rising around 10%, indicated investor confidence in Hertz's restructuring efforts. He emphasized that appointing a new CEO with experience in financial restructuring was crucial for navigating current challenges and restoring stability. West added that despite the challenges, the company's relocation and construction efforts at the new headquarters in Estero continued on schedule, signaling commitment to future growth.