Talk:Stephen Scherr
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Details to add
[edit] | This edit request by an editor with a conflict of interest has now been answered. |
Hi everyone. Alongside some biographical information that was missing from this article, which I added, there are some details about Scherr's time at Hertz that should be included both for clarity and accuracy. My suggestion is to amend the two final paragraphs of the existing Career section to read (preserving old and introducing new sourcing):
In 2022, Scherr was hired as CEO of Hertz Global Holdings, Inc. Hertz Car Rental. In 2022, Scherr's base salary was $1.5 million with performance-based bonuses, options, and other perks that brought his total compensation package from Hertz to $182 million. If those targets had been met, he would have been making him the third highest paid CEO in the US that year.[1][2][3]
At Upon joining Hertz as CEO in 2022, Scherr inherited[4] the company's strategy to significantly expanded Hertz's electric vehicle fleet, first introduced in 2021.[5]. In the fourth quarter of 2023, Hertz earnings dropped by $245 million due to depreciation of the value of these cars, as well as repairs costing approximately double what the repairs to a combustion engine would be. Starting in January 2024, Scherr initiated a reduction of Hertz's electric vehicle fleet, during which the company sold approximately 20,000 electric cars and used a portion of the proceeds to purchase internal combustion engine vehicles.[6] In March 2024, Hertz announced that Scherr would step down at the end of the month, and that he would be replaced by Gil West.[7]
References
- ↑ Smith, Morgan (2023-07-05). "These are the 10 highest-paid CEOs in the U.S.—some pull in over $200 million a year". CNBC. Archived from the original on 2024-04-04. Retrieved 2024-08-31.
- ↑ Morris, Chris (12 September 2023). "Fast Company CEO fair pay report". Fast Company.
- ↑ "Hertz wheels in ex-Goldman Sachs CFO as top boss, shares jump". Reuters. 4 February 2022.
- ↑ Schatzker, Erik; Welch, David (3 April 2024). "How Hertz's Bet on Teslas Went Horribly Sideways". Bloomberg.
- ↑ Schatzker, Erik (25 October 2021). "Hertz Order for 100,000 EVs Sends Tesla Value to $1 Trillion". Bloomberg.
- ↑ Thomas, Ian (14 January 2024). "Hertz makes 'agile' decision to shift strategy and sell EVs, Teslas". CNBC.
- ↑ Isidor, Chris (March 18, 2024). "Hertz CEO out following electric car 'horror show'". CNN Business. Retrieved March 23, 2024.
B for Pretium (talk) 18:41, 29 December 2025 (UTC)
- I've made these changes. If modifications are necessary, please be in touch. Will continue to work with the community on this and other pages. Thank you, B for Pretium (talk) 17:13, 4 February 2026 (UTC)