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Hertz emerges from bankruptcy with new board

Debt and coronavirus pushed Hertz into bankruptcy protection
Posted at 10:24 AM, Jul 01, 2021
and last updated 2021-07-01 19:31:57-04

Rental car firm Hertz is emerging from bankruptcy with a new board of directors.

They will include two representatives from investment firms Certares and Knighthead, which won a bidding war in May to acquire the company.

Hertz officials also said the board will feature four independent directors "with diverse views and backgrounds."

It also plans to make improvements to customer service operations and update its fleet with more electric vehicles as it re-enters the market as a solvent company.

Hertz filed for bankruptcy shortly after the beginning of the coronavirus outbreak in 2020. A sharp drop in all forms of travel led to the company selling a portion of its fleet and to lay off about 10,000 employees across the country.