Hertz Equipment Rental Corporation Appoints Christian J. Cunningham As Chief Human Resources Officer

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Sep 10, 2014, 09:00 ET

NAPLES, Fla., Sept. 10, 2014 /PRNewswire/ -- The Hertz Corporation (NYSE: HTZ), has announced that Christian Cunningham has joined the Hertz Equipment Rental Corporation (HERC) as its Chief Human Resources Officer. The role has been newly created for HERC as Hertz prepares to separate its car and equipment rental businesses into standalone, publicly traded companies as announced in March 2014.

Hertz Equipment Rental Corporation appoints Christian J. Cunningham as Chief Human Resources Officer (PRNewsFoto/The Hertz Corporation)

Mr. Cunningham has significant, senior-level experience in the Initial Public Offering (IPO) process, talent acquisition, board liaison, performance management and governance matters. He also brings international and field leadership experience along with a prior operational background with P&L responsibility. He joins HERC from DFC Global Corporation where he served as Vice President, Corporate HR and HR Services since June 2013 with global responsibility for all human resource matters for corporate staff.

Previously Mr. Cunningham held the position of Vice President, HR, Compensation and Benefits at Sunoco Inc. and Sunoco Logistics from 2010 to 2013. He was a member of the senior leadership team involved in transforming the company through several large transactions, including an IPO and establishment of a joint venture with a private equity firm.

"Chris is a superb addition to the Hertz Equipment Rental Corporation senior leadership team. His experience in supporting a major IPO and spin off process in addition to his expertise in leading sophisticated corporate and field human resource programs will be invaluable for HERC," said Brian MacDonald, Interim Chief Executive Officer, Hertz.

"Chris' proven ability to build and lead effective teams in complex, multi-cultural environments will also be immensely useful to HERC as the company continues to expand its world-wide presence and diversify into new markets. As HERC continues its progress towards the anticipated separation from Hertz, the equipment rental provider is building on a strong foundation and is well positioned for long-term growth," he added.

Prior to Sunoco, Mr. Cunningham served at ARAMARK as Vice President, Global Compensation and Strategy (2008 to 2010); at Scholastic Inc. as Vice President, Compensation, Benefits and HRIS (2006 – 2007); and at Pep Boys as Assistant Vice President, Human Resources (2005 - 2006). Previously Mr. Cunningham held director and regional managerial positions, in roles with increasing levels of responsibility at Pep Boys (1995 - 2005) and Tire Service Corporation, Inc (1985 - 1995).

Mr. Cunningham earned his Master of Business Administration from the Wharton School, University of Pennsylvania, and a Bachelor of Arts degree in Behavioral Science and Psychology from the same university.

Notes to Editors

On March 18, 2014, The Hertz Corporation announced that its board of directors approved plans to separate into two independent, publicly traded companies. The two companies will be "Hertz," comprised of the Hertz, Dollar, Thrifty and Firefly rental car businesses as well as Donlen, a provider of fleet leasing and management services, and a new equipment rental company, operating today as the Hertz Equipment Rental Corporation. The separation is planned to be in the form of a tax-free spin-off to Hertz shareholders, and the Company has received a Private Letter Ruling from the Internal Revenue Service that allows Hertz to separate the businesses in a tax-efficient manner.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this report, and in related comments by the Company's management, include "forward-looking statements." Forward-looking statements include information concerning the Company's liquidity and its possible or assumed future results of operations, including descriptions of its business strategies. These statements often include words such as "believe," "expect," "project," "potential," "preliminary," "anticipate," "intend," "plan," "estimate," "seek," "will," "may," "would," "should," "could," "forecasts" or similar expressions. These statements are based on certain assumptions that the Company has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate in these circumstances. The Company believes these judgments are reasonable, but you should understand that these statements are not guarantees of performance or results, and the Company's actual results could differ materially from those expressed in the forward-looking statements due to a variety of important factors, both positive and negative, that may be revised or supplemented in subsequent reports on SEC Forms 10-K, 10-Q and 8-K. Some important factors that could affect the Company's actual results include, among others, the thorough review of the Company's internal financial records that is being conducted, additional time that may be required to complete the review, the ability of the Company to remediate any material weakness in its internal control over financial reporting and those that may be disclosed from time to time in subsequent reports filed with the SEC and those described under "Risk Factors" set forth in Item 1A of the annual report on Form 10-K for the year ended December 31, 2013 of the Company. You should not place undue reliance on forward-looking statements. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

About Hertz Equipment Rental Corporation

Hertz Equipment Rental Corporation (www.hertzequip.com) – a wholly owned subsidiary of The Hertz Corporation since 1965 - operates one of the world's largest equipment rental businesses, offering a diverse line of equipment and tools for rent and sale. Products include aerial manlifts, air compressors and tools, earthmoving equipment and power generators, forklifts and material handling equipment, pumps, and trucks and trailers. Hertz Equipment also offers programs and equipment through its customer programs for Aerial, Energy, Entertainment, Government, HERC360 Fleet Management, Industrial Plants, National Accounts and Safety. With approximately 360 locations in the United States, Canada, China, France, Spain and Saudi Arabia as well as through international licensees, Hertz Equipment Rental offers daily, weekly, monthly and long-term rentals, tools and supplies, as well as new and used equipment for sale.

About Hertz

Hertz operates its car rental business through the Hertz, Dollar, Thrifty and Firefly brands from approximately 11,555 corporate and licensee locations in about 145 countries in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the largest worldwide airport general use car rental brand, operating from approximately 10,090 corporate and licensee locations in approximately 145 countries. Dollar and Thrifty have approximately 1,400 corporate and franchise locations in approximately 75 countries. Hertz is the number one airport car rental brand in the U.S. and at 130 major airports in Europe.

Product and service initiatives such as Hertz Gold Plus Rewards, NeverLost®, Carfirmations, Mobile Wi-Fi and unique vehicles offered through the Company's Adrenaline, Dream, Family, Fun, Green and Prestige Collections also set Hertz apart from the competition. Additionally, Hertz owns the vehicle leasing and fleet management leader Donlen Corporation, operates the Hertz 24/7 hourly car rental business and sells vehicles through its Rent2Buy program. The Company also owns a leading North American equipment rental business, Hertz Equipment Rental Corporation, which includes Hertz Entertainment Services. More information about the company can be found at www.abouthertz.com.

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SOURCE The Hertz Corporation