- March 28, 2024
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ESTERO — Herbert Henkel, retired chairman and CEO of Ingersoll Rand, has been named non-executive chairman of the equipment-rental business of Hertz Global Holdings.
Hertz is preparing to separate Hertz Equipment Rental Corp. as a stand-alone, publicly traded company later this year. The equipment-rental division is one of the largest in North America, primarily serving the construction, industrial, oil, gas, entertainment and government sectors.
“Herb Henkel has had a long and distinguished career in the equipment business. His experience, insight and guidance will be invaluable to HERC as it continues to transform its business,” says John Tague, Hertz president and CEO, in a statement. “As a result of his executive roles and prior board positions at several Fortune 500 corporations, Herb will provide broad strategic oversight as board chairman as well as a deep understanding of board responsibilities and a focus on creating shareholder value.”
Henkel was Ingersoll Rand's CEO from 1999 until his retirement in February 2010, and he served as the company's board chairman from 2000 until June 2010. Henkel is currently a director for 3M, where he serves as chairman of the audit committee, The Allstate Corporation and C.R. Bard.
“Herb Henkel's experience and perspective will be enormously valuable as we emerge as an independent public company,” says Larry Silber, president and CEO Hertz Equipment Rental, in a statement. “We look forward to working with Herb as we continue advancing initiatives to enhance customer service, expand and diversify our revenues and improve operating efficiencies to generate value for our shareholders.”