Hertz Global Holdings Inc. has named as its interim CEO, Brian P. MacDonald, who now is chief of the rental company’s construction-equipment unit. He replaces Mark Frissora who it said resigned on Sept. 8 for “personal reasons.”
The company had announced earlier this year that it would spin off Hertz Equipment Rental Corp. into a separate $2.5-billion public company by early 2015. However, accounting errors—acknowledged but not disclosed in detail by the company—that have held up reporting of its 2014 results “could definitely delay the spin-off,” says Nicholas Coppola, a senior equity analyst with Thompson Research Group.