Hertz Global Holdings appointed Kathryn V. Marinello as president and CEO effective January 3, 2017, replacing John Tague who will retire as president and CEO. Marinello has also been elected to the boards of directors to replace Tague.

Marinello is a veteran public company CEO who brings a strong mix of industry experiences that cover many facets of the automotive industry, from OEM to automotive insurance and automotive fleet financing. She has significant experience as a first-rate operating executive with strategic expertise and has significant experience interacting with customers similar to Hertz — direct consumers, corporations and insurance companies.

Marinello has served as a senior advisor of Ares Management since March 2014. Marinello served as the chairman, president and CEO of Stream Global Services from 2010 to March 2014. She has a broad career background including experience in banking, business service and technology. Marinello served as the CEO and president of Ceridian Corporation from 2006 to 2010. She served in a wide variety of senior roles over 10 years at GE, leading global, multi-billion dollar financial and services businesses. She served as the chief executive officer and president of GE Fleet Services at GE Commercial Finance from October 2002 to October 2006 and GE Insurance Solutions from 1999 to 2002. She served as president and CEO of GE Financial Assurance Partnership Marketing Group, a diverse organization that includes GE’s affinity marketing business, Auto & Home Insurance business, and Auto Warranty Service business from December 2000 to October 2002. Prior to this role, Marinello served as president of GE Capital Consumer Financial Services and also served as an executive vice president of GE Card Services, where she began her GE career in 1997.

Marinello said, “I am honored to have been selected to lead Hertz to its full potential at a time of unprecedented opportunity for the companies. I look forward to partnering with Hertz employees as we work to earn sustained industry leadership for the benefit of our shareholders, customers and team members.”

“Kathy is a tireless leader whose record shows a relentless focus on execution and high performance, having led a number of complex businesses and turnaround situations.  Her financial acumen and hands-on operating style will serve her well as she focuses on the strategic priorities facing Hertz today. Kathy is a world class leader who understands how to create shareholder value,” said Henry R. Keizer, the newly elected non-executive chair, on behalf of the boards.

Carl C. Icahn, chairman of Icahn Enterprises, the company’s largest shareholder, commented, “I am excited about Hertz and its prospects with Kathy at the helm.  Kathy has a history as a proven CEO and I believe she is the right person to lead Hertz as we move forward. Her consistent track record of successes in consumer and financial services, as well as technology businesses, is impressive.  She was extremely well-regarded at GE and successfully turned around Ceridian and Stream.”