Hertz Global Holdings, Inc. (HTZ Quick QuoteHTZ - Free Report) announced that Paul Stone, chief operations officer and president, will step down from his duties in order to pursue opportunities in the retail sector. Stone had begun his career in the retail sector. The exit will be effective from Sep 30, 2023. However, Stone will remain employed with the company in a transitional capacity through Oct 31, 2023.

Stone stated “Hertz's progress under Stephen's leadership has been impressive, and I am confident that the team he has built will deliver meaningful value for customers and shareholders in the years ahead”.

The search for new COO is still underway. In the interim period, the key operations will be looked upon by Stephen M. Scherr, Chair and Chief Executive Officer. Per Scherr “I want to thank Paul for his leadership at Hertz, particularly through the company's restructuring. I look forward to completing the leadership team, focused on transforming the future of Hertz, with the selection of a new COO”.

Zacks Rank

HTZ currently carries Zacks Rank #3 (Hold).

Key Picks

Some better-ranked stocks for investors interested in the Zacks Transportation sector are GATX Corporation (GATX Quick QuoteGATX - Free Report) and Triton International Limited .

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For third-quarter and full-year 2023, GATX’s earnings are expected to register 36.6% and 14.3% growth, respectively, on a year-over-year basis.

Triton, which currently carries a Zacks Rank #2, is benefiting from its consistent efforts to reward shareholders through dividends and share repurchases.

Triton has an impressive liquidity position. Its current ratio (a measure of liquidity) was 3.83 at the end of second-quarter 2023. A current ratio of more than 1 often indicates that the company will be easily paying off its short-term obligations.