Hertz has appointed Lois I. Boyd as president of Hertz Equipment Rental, she was leader of the company's Advantage car rental business.
Boyd joined Hertz in 2007 as senior vice president, process improvement and project management. She moved to Advantage Rent-a-Car after Hertz acquired it out of bankruptcy in April 2009.
Boyd joined Hertz from Tenneco's Global Commercial Vehicle operation where under her leadership the business grew from revenues of $100 million when she started to over $1 billion. Prior to Tenneco, she held several management positions in sales and distribution at Aeroquip/Vickers.
Hertz chief executive Mark Frissora said: "Lois Boyd has almost 15 years of senior management experience managing costs, growing revenue and developing people in highly competitive businesses and these are the on-going challenges for HERC as it continues to rebound from the worst equipment rental recession in its 42-year history.”
“At Hertz, and before that at Tenneco, Lois has led corporate-wide cost management programmes and had P+L responsibilities for global growth businesses. Most recently, she led Advantage Rent-a-Car from bankruptcy to a point where it generates solid profits on well over $240 million of revenues.”
“We believe HERC is poised for breakthrough success, based on its ability to generate at least 37 percent plus EBITDA margins throughout the recession, despite having revenues cut in half. Its best days are ahead in the near future and Lois has the right leadership experience to accelerate the process.”