Hertz Investors Want Penske on Board

At least two large investors in Hertz Global Holdings Inc. are urging the new chairwoman of the troubled rental car company to beef up its board by adding Roger Penske and two former rental car company CEOs, Bloomberg News reports.

Sources tell the news service the investors also want the company to give board seats to William Lobeck, former CEO of Vanguard Car Rental, and Vince Wasik, former CEO of National.

None of the would-be candidates has commented.

Bloomberg says the investors further suggest replacing ousted CEO Mark Frissora with Scott Thompson, the former CEO of Dollar Thrifty Automotive Group Inc., a rival Hertz acquired two years ago.

Brian MacDonald, who joined Hertz two months ago to run its equipment rental unit, is serving as interim CEO. The board also named Linda Levinson nonexecutive chair. Frissora was pushed out on Monday by investors after accounting errors and strategic missteps left the company with an estimated $200 million writedown on its aging fleet. Analysts say the company has struggled to gain savings from its acquisitions.