Following Hertz’s disastrous misadventure with EVs, CEO Stephen Scherr is stepping down, Bloomberg reported. He’ll be replaced by the former COO of GM’s robotaxi Cruise division, Gil West, who will also join the board of directors.
A year after emerging from bankruptcy in 2020, Hertz said it would transform its car rental business by purchasing 100,000 Tesla EVs. “The new Hertz is going to lead the way as a mobility company, starting with the largest EV rental fleet in North America,” the company said at the time. The announcement helped send Tesla’s value soaring to
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