< PrevNext > Kathryn Marinello, Hertz CEO The Course Corrector By Michael B. Baker / December 13, 2019 / Contact Reporter Share When she took over as CEO of Hertz at the beginning of 2017, Kathryn Marinello had a reputation as a master of turnarounds. Investor Carl Icahn, Hertz's largest shareholder, endorsed her selection, citing her turnaround experience at outsourcing firm Stream Global Services and HR software supplier Ceridian.It was what Hertz badly needed at the time. The iconic brand, which celebrated its centennial last year, had been losing marketshare and money. Nearly three years later, though Marinello noted work is ongoing, there are clear signs she is having similar success as Hertz. The company has had nine consecutive quarters of year-over-year topline growth and eight quarters of profitable growth since her arrival, she said.That turnaround has required a significant investment, including improvements to Hertz's fleet mix and renovations of Hertz's app and website, among other expenditures."We're investing not just in the direct-to-consumer tools but in the fleet management tools, the connected cars and our ability to quickly manage maintenance," Marinello said. "All of these things drive greater productivity, and when your costs are lowered, and the process is better, you are delivering a more customer-satisfying experience as well as freeing up funds to continue to invest in the technology."Besides improving financials, Marinello's strategy further was validated this year as Hertz earned the top spot in the J.D. Power 2019 North America Rental Car Satisfaction Study, edging out Enterprise, which had the top score in the survey for five years prior."We listen to our employees and our customers as far as what they thought was important from a product perspective and a technology perspective, and we've made the investments in those things over the last few years; those investments have paid off," Marinello said. "When you get confirmation from external sources, it's the ultimate satisfaction for our leadership team and the employees here."