Hertz Names John Tague As New CEO

Hertz Global Holdings Inc. announced on Thursday it will appoint John Tague as its new CEO and president effective Nov. 21. Tague is a travel and transportation industry veteran. He is a former CEO of United Airlines, and more recently was the CEO of Cardinal Logistics Holdings. The appointment comes after an extensive search by the rental car company's board of directors, which included two recent appointees as part of an agreement with activist investor Carl Icahn. "I have been involved in a number of CEO searches during the last decade and have been quite impressed by the knowledge and imagination of a number of these candidates, many of whom have turned into very successful CEOs," Icahn said. "I am happy to say that after listening to John's ideas concerning Hertz and evaluating what he has accomplished at United, I believe he ranks at or near the top of the group." The company has been plagued by accounting issues and weak earnings results in recent quarters. Hertz shares were down nearly 3% in after-hours trading.