Hertz Global Explores Financing Options Following CEO's Commitment to Turnaround

Hertz Global is actively exploring options to raise financing just weeks after its new CEO pledged to steer the company back on track following a failed investment in electric vehicles, Bloomberg News reported, citing sources familiar with the matter.

Stock Movement

Shares of Hertz Global rose 4.1% in after-hours trading following the news. This comes after the company experienced a record low in April due to reporting a larger-than-expected quarterly loss.

Strategic Steps

• Financial Advisers: Hertz is working with financial advisers to evaluate its financing options. This move is part of a broader effort to stabilize and improve the company's financial health.

• CEO's Commitment: The new CEO's recent commitment to revitalize Hertz highlights a strategic shift in the company's approach after setbacks with its electric vehicle investments.

Company Response

Hertz did not immediately respond to a request for comment from Reuters regarding the report.

Market Outlook

The financial markets have shown a positive response to Hertz's proactive steps towards financial stabilization, as indicated by the rise in share prices.

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