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HTZ > SEC Filings for HTZ > Form 8-K on 16-Aug-2013All Recent SEC Filings

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Form 8-K for HERTZ GLOBAL HOLDINGS INC


16-Aug-2013

Change in Directors or Principal Officers


ITEM 5.02 DEPARTURE OF DIRECTORS

Hertz Global Holdings, Inc. ("Hertz Holdings") was previously a party to an amended and restated stockholders' agreement (the "Stockholders Agreement"), among it and investment funds associated with or designated by Clayton, Dubilier & Rice, LLC ("CD&R"), The Carlyle Group ("Carlyle") and Merrill Lynch & Co., Inc. ("Merrill Lynch" and together with CD&R and Carlyle, the "Sponsors"). Pursuant to the terms of the Stockholders Agreement, the Sponsors had the right to nominate directors to the Boards of Directors of Hertz Holdings and its wholly owned subsidiary The Hertz Corporation ("Hertz" and together with Hertz Holdings, the "Companies"). The Stockholders Agreement was terminated on May 9, 2013 in connection with the sale of Hertz Holdings common stock by the Sponsors whereby the Sponsors reduced their ownership of Hertz Holdings common stock to de minimis amounts. Accordingly, the Sponsors no longer have the right to nominate directors.

Taking into consideration all of the above, on August 15, 2013, David Wasserman (a CD&R nominee) and Brian Bernasek (a Carlyle nominee) notified the Boards of Directors of the Companies that they were resigning as directors of the Companies effective immediately. Mr. Wasserman's and Mr. Bernasek's decisions to resign were amicable and did not involve any disagreement with the Companies, the management of the Companies or the Boards of Directors of the Companies.


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