(Reuters) – Herts CEO said he feels humbled following comments from billionaire investor Bill Ackman.
“I should be humble and feel that we should all be encouraged by Bill Ackman’s comments and energized by the strong support he has shown,” Hertz CEO Gil West said in a letter to employees seen by Reuters.
Ackman previously said in a post on X that he believes West and his management team will increase unit revenue and reduce operating costs will significantly improve profit margins over the next few years. He added that the company’s capital structure allows shareholders to generate a very attractive return on investment.
“The tariff announcement created a cloud that is closer to the travel industry, but there are low expectations for Hertz’s first and first half results, but we believe the company will generate sustained high profitability over the medium term,” added Ackman.
Pershing’s Hertz interest is the second largest shareholder in the company. Hertz shares rose 44.3% on Thursday. Since its launch in 2025, the stock price has risen by more than 125%.
(Reporting by Abhinav Parmar of Bengaluru, edited by Matthew Lewis)
