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Hertz Stock Rises After Announcing New Chief Accounting Officer

Practice Stock Trading
Updated: 20 October 2020

Hertz (NYSE: HTZ) shares have rallied 7% premarket after the bankrupt car rental business announced Alexandra Brooks as its new Senior Vice President and Chief Accounting Officer.

Brooks' served as Hertz's Senior Vice President, Internal Audit since June this year and has over 25 years of experience in finance and accounting, previously working as Vice President, Internal Audit at Aptiv PLC.

Kenny Cheung, Executive Vice President and Chief Financial Officer, said: “I know her leadership and extensive accounting, finance and audit experience will continue to serve Hertz well as we further progress our efforts to ensure a strong future for the company.”

Hertz's share price closed yesterday's session at $2.15 per share after a recent surge higher following news that the company obtained $1.65 billion in financing.

Since yesterday's announcement, the company's share price has gained over 7% and is trading at $2.34 premarket.