ESTERO, Fla. - April 28, 2016 // PRNewswire // - Hertz Global Holdings (NYSE: HTZ) has announced that its Hertz Equipment Rental Corporation (HERC) business has appointed Elizabeth M. Higashi, CFA, vice president, Investor Relations, as part of preparations for the planned separation of that business as a stand-alone, publicly traded company later this year.
Higashi is responsible for all aspects of the company's investor relations program, including serving as the principal contact with the investment community. She reports to Larry H. Silber, president and chief executive officer, and is based in the company's headquarters in Bonita Springs, Fla.
Higashi has more than 30 years of experience in financial communications and investor relations with Fortune 500 companies and providing counsel to companies in the financial services, housing, education, media, retail, transportation, chemical, agricultural products, energy and healthcare industries. She was most recently president of Higashi Advisors, LLC and was previously a principal at Sard Verbinnen & Co., a leading strategic communications firm. Higashi also held senior investor-relations and communications roles with Horizon Pharma plc, IMCERA Group, Inc. (formerly International Minerals & Chemical Corporation), SFN Companies, Inc., and The Times Mirror Company.
"Elizabeth brings a demonstrated record of success in broad-based financial, investor and business communications across multiple and diverse publicly traded companies," said Silber. "I am delighted that HERC will benefit from her expertise as we build programs and drive initiatives to retain, attract and grow our debt and equity investor base as an independent company. In addition, her comprehensive business knowledge and experience will be valuable in advancing HERC's overall reputation and financial performance."
Higashi holds a bachelor's degree in political science from UCLA and a master's degree in urban studies from Occidental College. She was a CORO Foundation Fellow in Southern California and is a CFA charter holder. Higashi also serves on the steering committee of the Senior Roundtable of the National Investor Relations Institute.
Hertz Global Holdings filed an SEC Form 10 registration statement detailing the planned separation of its equipment rental business in December 2015 and filed an amendment of the Form 10 in April 2016. No record date has been set, though the company has said it expects the transaction to be completed by mid-2016. The separation is expected to be a tax-free event for U.S. federal income tax purposes to shareholders. The Form 10 registration statement is available at: http://www.sec.gov/Archives/edgar/data/1657853/000165785316000015/form10-amendment2.htm
Hertz Global Holdings operates the Hertz, Dollar, Thrifty and Firefly car rental brands in more than 10,300 corporate and licensee locations throughout approximately 150 countries in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz Global Holdings is the largest worldwide airport general use car rental company with more than 1,600 airport locations in the U.S. and more than 1,300 airport locations internationally. Product and service initiatives such as Hertz Gold Plus Rewards, NeverLost®, Carfirmations, Mobile Wi-Fi and unique vehicles offered through the Adrenaline, Dream, Green and Prestige Collections set Hertz Global Holdings apart from the competition. Additionally, Hertz Global Holdings owns the vehicle leasing and fleet management leader Donlen Corporation and sells vehicles through its Rent2Buy program. The Company also owns Hertz Equipment Rental Corporation ("HERC"), one of the largest equipment rental businesses with approximately 280 locations worldwide, including franchise locations, offering a diverse line of equipment and tools for rent and sale. HERC primarily serves the construction, industrial, oil, gas, entertainment and government sectors. For more information about Hertz Global Holdings, visit: www.hertz.com.
Founded in 1965, HERC, which plans to be known as Herc Rentals Inc. following its separation from Hertz Global Holdings, is one of the leading equipment rental suppliers in North America with approximately 280 company-operated branches, of which approximately 270 are in the United States and Canada. HERC is a full-line equipment-rental supplier in key markets, including commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture. The equipment rental business is supported by industry-specific expertise and solutions-based services aimed at helping customers work more efficiently, effective and safely. HERC also operates in the United Kingdom and China and through joint venture arrangements in Saudi Arabia and Qatar and through franchisees in nine countries in Europe, the Middle East, Latin America and Asia. HERC's 2015 total revenues on a segment basis were $1.5 billion with Adjusted Corporate EBITDA of $610 million. The company has approximately 4,500 employees. For more information on HERC and its products and services, visit: www.hertzequip.com.
SOURCE Hertz Global Holdings