Effective May 16, 2020, Kathryn V. Marinello resigned from her position as President and Chief Executive Officer of Hertz Global Holdings, Inc. and The Hertz Corporation and from any office at any affiliated entity of the Company and resigned as a member of the Company's Board of Directors. If requested by the Company, Ms. Marinello has agreed to provide consulting and transition services to the Company upon mutual agreement of the terms and conditions. On May 16, 2020, the Board appointed Paul E. Stone, the Company's Executive Vice President and Chief Retail Operations Officer North America, to serve as President and Chief Executive Officer of the Company and as a Director on the Board.

Mr. Stone, 50, has served as Executive Vice President and Chief Retail Operations Officer North America of the Company since March 2018. Prior to that, Mr. Stone most recently served as the Chief Retail Officer at Cabela's Inc., an outdoor outfitter retail company, from November 2015 to December 2017.