Hertz ($HTZGQ* ) announced that Gil
West as of April 1 as the new CEO from April 1. West was previously Chief Operating Officer at Delta Airlines ($DAL (+0 %) ) and at GM's ($GM (+1,81 %) ) Cruise unit, Stephen Stephen Scherr who has decided to step down as CEO and member of the Board of Directors.

The reason for the change is due to the high

higher repair costs and weak demand for electric vehicles, which are difficult to rent out. Hertz announced that it will rent out approx. 20000 electric vehiclesincluding Teslas ($TSLA (-4,58 %) ), from its US fleet and instead switch to gasoline-powered vehicles instead.