BONITA SPRINGS, Fla.–(BUSINESS WIRE)–Herc Holdings Inc. (NYSE: HRI), a leading North American equipment rental supplier operating through Herc Rentals Inc., announced that its Board of Directors has elected Rakesh Sachdev to serve as a director on the board, effective December 2, 2021.
Mr. Sachdev is former chief executive officer of two publicly held corporations: Platform Specialty Products, a global specialty chemicals business, and Sigma Aldrich, an S&P 500 life sciences and biotechnology firm. Currently a senior advisor with New Mountain Capital, Mr. Sachdev also served in the past as a board member and chairman of the Federal Reserve Bank of St. Louis. Mr. Sachdev’s career also includes nearly two decades of global finance and operating leadership roles in industrial businesses Arvin Meritor, Inc. (now Meritor, Inc.) and Cummins Inc.
Mr. Sachdev serves as the chairman of the board of Regal Rexnord Corporation and also serves on the boards of Axalta Coating Systems, LLC, and Edgewell Personal Care LLC. He holds a bachelor’s degree in mechanical engineering from the Indian Institute of Technology; a Master of Science degree in mechanical engineering from the University of Illinois; and an MBA from Indiana University.
“I am pleased to welcome Rakesh to Herc Holdings’ board,” said Patrick D. Campbell, chairman of the board. “Rakesh brings extensive leadership experience across a diverse range of businesses and outstanding expertise in finance, strategy and operations. We look forward to his immediate contributions to the company’s success.”
The company also announced the retirement of Mary Pat Salomone from the board, effective December 2, 2021. “I thank Mary Pat Salomone for her service on the board and valuable contributions as an original director since Herc Holdings became an independent public company,” said Mr. Campbell.
About Herc Holdings Inc.
Herc Holdings Inc., which operates through its Herc Rentals Inc. subsidiary, is one of the leading equipment rental suppliers with approximately 300 locations in North America. With over 55 years of experience, we are a full-line equipment rental supplier offering a broad portfolio of equipment for rent. Our classic fleet includes aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction and lighting. Our equipment rental business is supported by ProSolutions®, our industry-specific solutions-based services, which includes power generation, climate control, remediation and restoration, and studio and production equipment, and our ProContractor professional grade tools. Our product offerings and services are aimed at helping customers work more efficiently, effectively and safely. The Company has approximately 5,200 employees who equip our customers and communities to build a brighter future. Herc Holdings’ 2020 total revenues were approximately $1.8 billion. For more information on Herc Holdings and its products and services, visit: www.HercRentals.com.
