With another high profile executive exit, it's clear that we need to go back to the judge and demonstrate the need to pay retention bonuses. The work ahead is hard and the road ahead is very uncertain. Is it now clear that some additional bonuses will help stabilize our core leadership?
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It is interesting how the IT CIO is working undercover with Vendors to get them paid without the bankruptcy court being aware of it and without presenting it as new contracts.
Jamere was the most qualified person at Hertz to turn this thing around. Kathy was in over her head, and frankly she was at the end of her career and I'm sure she was happy to get out of this hot mess. Sleepy Paul is Paul and will liquidate the company and retire to a double wide down by a river. Don't hold any grudges against these outsiders that tried to turn things around. The blame is squarely on the 10+ year salaried and hourly employees that blocked creative strategies, improved technology, and cost cutting years ago. The high level field leaders really failed Hertz the most.
Whomever wrote that last response apparently do not know those leaders at all. Jamere should have been the CEO hands down but the board wanted someone doesn't know how to run a business so they can run that leader. No offense to the current leader but he isn't ready. Kathy was asked to leave and she didn't get a package like the last leader. She wanted to offload Donlen which is smart but the board said no. Just what, now we are doing it. This move would have starved off bankruptcy for sure. Eric was in bad spot I can only assume. You are sharing a role and with a board who doesn't care. It's not always about work and money. Personal gratification and seeing your family is worth more than the pennies.
No one left because of the additional bonuses. Those numbers can be gotten at any company outside of Hertz. That is not an anchor. Has to feel right and you have to feel there is a future for yourself. Has nothing do with the company survival because we will survive.
We will miss those leaders and few others that have left. Now it's up to us to keep it going but I don't have any fault with those leaders leaving. It's their choice and if you were in a similar situation, you might go as well. So mind your house.
Great and respectable leaders do not abandon ship. I am quite disappointed with Kathy, Jamere, Eric and the rest of those people who left without even trying. They’re paid good salaries and bonuses when Hertz was thriving. I am surprised Jamere and Eric got a position elsewhere. I would question their leadership.... BTW, these folks let go of the loyal Hertz employees and replaced them with their minions. Look where it got Hertz for trusting outsiders with no loyalty. They’re the first to abandon ship just because the judge rejected their additional bonus. It just shows their true character. SMH
Paul and his team are top notch leaders. I took a 401k loan to buy HTZ. I will turn my $15k into $150K by 2023.
Give the top 10 leaders bonus money or Hertz will not survive. They need an incentive to stay and fix this.
Since most sources say Hertz will be liquidated in the next year, the Judge should not allow any bonuses. All proceeds from the liquidation should go to the creditors.
Posters here make really good points. I beg to differ with the bonus money however. Paul is new to the company and didn't create this mess. Paul indeed does deserve to get a nice bonus to stay and fix this mess.
Top executives are leaving because liquidation is inevitable. Nobody deserves a bonus for running a company into the ground and forcing thousands of people into unemployment...
Paul? Did you write this?
Couple million to keep lousy leaders onboard in the grand scheme of things IS something. They broke it, no need to reward them in excess to what they already lined their packets with for retention bonuses paid. If they are not working for the best interest of their company and their coworkers now, let them leave. Shows their commitment to fixing the mess they participated in creating. Good luck to the next company that gets these worthless wannabe leaders.
"The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy."—Martin Luther King, Jr.
Jemere gave up his retention bonus to leave. Esper was in his role a mere 3 weeks before he decided the ship has taken on too much water to save. Bonuses won't do anything. They will just kick the can down the road
Bonus money will help keep the positive trends going. A couple million to keep the top 20 leaders from leaving is not much in the grand scheme of things.
No. F— all of them. The company is liquidated and they fired 80% of the employees. They don’t deserve sh–