Hertz recreates CMO position amid business transformation

Hertz, the car rental giant, has just appointed a marketing director for the first time since 2020. It has chosen Wayne Davis, a former marketing director for GE Appliances, a home appliance manufacturer.

The new marketing director is not in charge of customer experience

The new marketing director will take office on January 3, 2023. He will have the title of Executive Vice President and CMO (Chief Marketing Officer). not the CMO title. Laura Smith remains Executive Vice President, Global Sales and retains customer experience as part of her remit.

Wayne Davis has experience in brand building and expertise in marketing analytics

The new CMO’s data experience played a role. ” Wayne Davis’ experience in brand building and his expertise in data-driven marketing analytics is a powerful combination confirms Stephen Scherr, CEO of Hertz. ” He will bring vision to Hertz as we transform our business through electric vehicles, shared mobility and a digital-first customer experience. he finishes.

The new CMO promises innovations. ” Hertz is an iconic brand with unlimited potential “says Wayne Davis. He salutes the talent of Hertz’s current marketing team and announces that he will bring game-changing ideas to market and work to connect Hertz to customers, businesses and ridesharing.

Hertz has revived since its July 2021 exit from bankruptcy protection

Hertz’s new CEO arrived in February from Goldman Sachs

Hertz’s business has suffered during the pandemic. In February 2022, the firm hired Stephen Scherr as the new chief executive and former chief financial officer of investment bank Goldman Sachs. The biggest challenge ahead for Hertz is convincing customers to accept significantly higher prices than before the pandemic, according to Chris Woronka, principal analyst at Deutsche Bank AG, quoted by the Wall Street Journal.

The marketing director must extend brand distribution and customer engagements

At Hertz, Wayne Davis will pilot the Hertz, Dollar and Thrifty brands. And he will develop the company’s marketing strategy to expand brand outreach and customer engagement. Wayne Davis has 20 years of marketing, sales and business development experience in various industries. For the past 4 years, he has led the premium Café brand of home appliances as part of GE Appliances. Café tripled in size under his leadership, points out Hertz.

Wyane Davis must appeal to young consumers, particularly through electric vehicles and promote its less expensive Dollar and Thrifty brands. Above all, it will be necessary to encourage Hertz’s corporate customers to use electric vehicles. Stephen Scherr, CEO of Hertz, has promised to make 25% of Hertz’s fleet electric by the end of 2024. Hertz will also update its mobile app and integrate it into more of its marketing materials.

Revenue up by +12% in the 3rd quarter of 2022

As a reminder, Hertz emerged from bankruptcy protection in the United States in July 2021. It had placed itself under this regime at the start of the Covid-19 pandemic, in May 2020. At the end of 2021, Hertz posted revenue of $7.3 billion. In the third quarter of 2022, Hertz achieved $2.5 billion in revenue, up +12% compared to the same quarter of 2021.

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Hertz recreates CMO position amid business transformation

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