Car rental firm Hertz Global Holdings has named former Goldman Sachs finance chief Stephen Scherr as its top boss.
Scherr will be replacing interim CEO Mark Fields.
The news sent Hertz’ shares up 4% before the bell.
Scherr will assume his new role as CEO and a board member on Feb. 28, Hertz said in a statement.
Hertz is in the process of raising debt to refinance expensive preferred stock issued as part of the company’s exit from bankruptcy.
Scherr resigned from Goldman in September after a near three-decade run.
Reuters reports that Scherr will receive a base salary of $1.5 mln and will have a performance-based annual bonus target of 160% of his salary.