Gerald Plescia retires from HERC

Gerald Plescia (above) has announced that he is retiring as the president of HERC.

Jan. 31. 2011 – Hertz has announced that Gerald A. Plescia, president of Hertz Equipment Rental Corporation (HERC), has retired from the company. Mark P. Frissora, the HERC's chairman and CEO, has assumed temporary senior management responsibility for HERC until a successor is named after an internal and external search. Hertz expects to conclude the search within the next 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 Frissora. "Gerry helped lead HERC through two deep recessions during the past decade and he leaves the business with an improved internal organization which is realizing 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 percent for the full year 2011."

Frissora added that, "HERC's seasoned management team, at the operational and staff levels, is committed to optimizing their many growth and efficiency opportunities. They will continue to focus on providing the best possible service and equipment rental solutions to HERC's expanding range of industrial, construction and other customers."