Plescia retires from Hertz after 32 years

Gerald Plescia, president of Hertz Equipment Rental Corp (HERC), has retired from the company after 14 years in the position and 32 years with the company.

Hertz's chairman and chief executive officer Mark Frissora has assumed interim responsibility for the business until a successor is named. Hertz said it expected its internal and external search to be completed within 90 days.

"During his 32-year Hertz career, Gerry has made many significant contributions to our car and equipment rental businesses, the past 14 years serving as president of HERC", said Mr Frissora.

"Gerry helped lead HERC through two deep recessions during the past decade and he leaves the business with an improved internal organisation which is realising significant revenue growth opportunities.

"As a result, HERC has made a solid contribution to our fourth quarter 2010 results and we expect HERC to generate double-digit revenue growth and achieve a Corporate EBITDA margin of 42% for the full year 2011."