(Reuters) – Rental car firm Hertz Global Holdings Inc said on Monday its Chief Financial Officer Kenny Cheung was leaving the company to pursue other opportunities.
The company said Chief Accounting Officer Alexandra Brooks will serve as interim finance chief, effective April 1.
Shares of the company, which operates the Hertz, Dollar and Thrifty vehicle rental brands, were up 1.3% before the bell.
Cheung’s departure comes at a time when Hertz’s profitability has come under pressure in recent months due to higher car maintenance costs.
For the first quarter, the company’s profit is expected to fall 84%, according to Refinitiv data, as demand for car rentals also wane on lower seasonal travel.
Cheung will remain in the company until April 14, the company said, as it kick-starts a formal search process for a new CFO.
(This story has been refiled to correct a typographical error in the last paragraph)
(Reporting by Pratyush Thakur in Bengaluru; Editing by Shinjini Ganguli, Shounak Dasgupta and Rashmi Aich)
