Company restores executive pay while it staves off bankruptcy

Rental car giant Hertz Global Holdings has until May 22 to come up with new plan to avoid liquidating vehicles or other issues.

  • By Business Observer Staff
  • | 4:15 p.m. May 5, 2020
Courtesy. Hertz shares, which had fallen as much as 36% before the start of regular trading May 5, were down 16.16% for the day, to $3.01 a share
Courtesy. Hertz shares, which had fallen as much as 36% before the start of regular trading May 5, were down 16.16% for the day, to $3.01 a share
  • Charlotte–Lee–Collier
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ESTERO — Rental car giant Hertz Global Holdings has signed an agreement with several lenders that gives the company until May 22 to find a plan that avoids filing for Chapter 11 bankruptcy. The company, according to a public filing, also restored salaries of employees and executives, including CEO President and CEO Kathryn Marinello, that had been cut in the early days of the coronavirus pandemic.

 

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