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Icahn backs new Hertz CEO

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  • | 1:45 p.m. November 21, 2014
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NAPLES — Carl Icahn, the activist investor who is the largest shareholder of Hertz, says he's encouraged by the fact that the car-rental giant's new pick for CEO was a key player in the turnaround of United Airlines.

On Thursday, Hertz named John Tague as president and CEO of the struggling car-rental company that moved its global headquarters to Southwest Florida last year. Tague is the former president and chief operating officer of United Airlines.

In September, former CEO Mark Frissora resigned after accounting and operational problems surfaced. Frissora engineered the company's relocation from New Jersey to Southwest Florida last year, where it is building an $85 million corporate campus in Estero.

“Glenn Tilton, the former chairman and CEO of United Airlines, informed me that John Tague was a key player in the United Airlines turnaround and as president and the former COO he would have been Glenn's recommendation to be the next CEO of United once Glenn retired, had the United Continental merger not occurred,” says Icahn, in a statement.

“I have been involved in a number of CEO searches during the last decade and have been quite impressed by the knowledge and imagination of a number of these candidates, many of whom have turned into very successful CEOs,” Icahn says in the statement. “I am happy to say that after listening to John's ideas concerning Hertz and evaluating what he has accomplished at United, I believe he ranks at or near the top of the group.”


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