{"id":783,"date":"2024-03-19T09:59:01","date_gmt":"2024-03-19T09:59:01","guid":{"rendered":"http:\/\/pakevo.com\/?p=783"},"modified":"2025-10-22T21:24:45","modified_gmt":"2025-10-22T21:24:45","slug":"ceo-steps-down-after-being-hit-with-expensive-ev-repairs-and-low-resale-prices-following-purchase-of-100000-teslas","status":"publish","type":"post","link":"https:\/\/pakevo.com\/index.php\/2024\/03\/19\/ceo-steps-down-after-being-hit-with-expensive-ev-repairs-and-low-resale-prices-following-purchase-of-100000-teslas\/","title":{"rendered":"CEO steps down after being hit with expensive EV repairs and low resale prices following purchase of 100,000 Teslas"},"content":{"rendered":"\n

Hertz Global Holdings<\/a> Inc. is replacing its chief executive officer in the wake of a disastrous bet on electric vehicles that the company began unwinding in recent months.<\/p>\n\n\n\n

Stephen Scherr, who ran Hertz for just over two years after three decades at\u00a0Goldman Sachs<\/a>\u00a0Group Inc., has decided to step down, the rental-car company said late Friday in a statement. It\u2019s replacing him with Gil West, the former chief operating officer of\u00a0General Motors<\/a>\u00a0Co.\u2019s Cruise robotaxi unit. West also will join the board of directors on April 1, according to the statement, which confirmed an earlier Bloomberg report. Scherr, 59, joined Hertz several months after it emerged from bankruptcy and started making splashy wagers on electric vehicles. Under new owners Knighthead Capital Management and Certares Management, the rental company announced plans to order 100,000 vehicles from\u00a0Tesla<\/a>\u00a0Inc., sending the automaker\u2019s market capitalization soaring past the\u00a0$1 trillion<\/a>\u00a0mark at the time. https:\/\/fortune.com\/2024\/03\/15\/ceo-steps-down-prices-following-purchase-teslas\/<\/a><\/p>\n\n\n\n

BYERIK SCHATZKER<\/a>, DAVID WELCH<\/a>, SRIDHAR NATARAJAN<\/a> AND BLOOMBERG<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Hertz Global Holdings Inc. is replacing its chief executive officer in the wake of a disastrous bet on electric vehicles that the company began unwinding in recent months. Stephen Scherr, who ran Hertz for just over two years after three decades at\u00a0Goldman Sachs\u00a0Group Inc., has decided to step down, the rental-car company said late Friday in…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[23],"tags":[],"class_list":["post-783","post","type-post","status-publish","format-standard","hentry","category-global-news"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/pakevo.com\/index.php\/wp-json\/wp\/v2\/posts\/783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakevo.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakevo.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakevo.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakevo.com\/index.php\/wp-json\/wp\/v2\/comments?post=783"}],"version-history":[{"count":1,"href":"https:\/\/pakevo.com\/index.php\/wp-json\/wp\/v2\/posts\/783\/revisions"}],"predecessor-version":[{"id":784,"href":"https:\/\/pakevo.com\/index.php\/wp-json\/wp\/v2\/posts\/783\/revisions\/784"}],"wp:attachment":[{"href":"https:\/\/pakevo.com\/index.php\/wp-json\/wp\/v2\/media?parent=783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakevo.com\/index.php\/wp-json\/wp\/v2\/categories?post=783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakevo.com\/index.php\/wp-json\/wp\/v2\/tags?post=783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}