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Rental car company Hertz names John Tague as new CEO

NEW YORK, N.Y. – Hertz, which is the midst of correcting past accounting problems, said Thursday that it named John Tague as its new chief executive officer.

The car rental company’s former CEO, Mark Frissora, stepped down in September for personal reasons.

Hertz announced in June that it needed to review financial reports from the last three years and restate 2011 results. At the time, Hertz wasn’t sure if would need to restate statements from 2012 and 2013. But last week, the company said it would.

Tague has been CEO of a trucking company and held executive jobs at United Airlines.

Carl Icahn, the activist investor whose hedge fund owns an 8.5 per cent stake in Hertz, said in a statement that he helped select the new CEO along with a committee.

Shares of Naples, Florida-based Hertz Global Holdings Inc. slipped 5 cents in after-hours trading Thursday. It had closed up 57 cents, or 2.6 per cent, to $22.57 Thursday. Its shares are down about 21 per cent in 2014.