Hertz Chairman and CEO Frissora steps down from posts for personal reasons

MarketsAssociated Press

Hertz Chairman and CEO Mark Frissora has stepped down from his posts for personal reasons.

The car rental company said Monday that Brian P. MacDonald, president and CEO of Hertz Equipment Rental Corp., will serve as interim CEO of Hertz Global Holdings Inc. MacDonald has served as president and CEO of Hertz Equipment Rental since June.

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Frissora had served as CEO of Hertz Global since January 2007.

Hertz, based in Park Ridge, New Jersey, said that it's started the search process for a permanent CEO.

Independent lead director Linda Fayne Levinson has also been named independent non-executive chair of the board. She's been a Hertz board member since 2012.

Hertz's stock rose more than 5 percent in premarket trading.