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CLEARWATER — Kathy Marinello, who resigned as president and CEO of car rental giant Hertz a week before it filed for bankruptcy last May, has been named to the same role at moving and storage company PODS. It was done.
Marinello replaces PODS President and CEO John Koch, who is retiring after more than eight years with the Clearwater-based company, a pioneer in portable moving and storage, according to a statement. becomes. Prior to joining Hertz, Marinello held CEO positions at several other companies, the release added. The list includes Stream Global Services, Ceridian Corp., First Data’s electronic payments group, and General Electric’s fleet commercial finance, consumer insurance, and consumer finance divisions.
“Kathy is a proven and visionary leader and we are excited to welcome her to PODS,” PODS Senior Vice President and CFO Simon Gregorich said in a statement. “PODS is a brand built on a spirit of innovation, and Kathy’s track record of implementing bold, forward-thinking strategies to drive growth positions her well to lead her company forward.” in her unique position.”
Marinello managed the Lee County-based Hurts from January 2017 to May of last year. Mr. Marinello is leaving the company as part of what the company calls an “ongoing succession planning process,” and Paul Stone, head of the company’s North American retail operations, has become CEO. According to a statement from PODS, Mr. Marinello achieved some success with Hertz, a publicly traded company. The company said that includes driving “10 consecutive quarters of revenue growth and nine consecutive quarters of revenue growth.” The company recorded annual sales of $9.8 billion in 2019.
Hertz also had some issues under Marinello, primarily struggling to compete with the proliferation of ride-sharing driven by Uber and Lyft. These issues, combined with significant debt, most of which predates Mr. Marinello’s employment, and the devastating impact the pandemic has had on the travel industry, led to Hertz losing approximately 20,000 employees in 2020. I ended up getting fired. This represents more than half of the company’s 38,000 employees worldwide. . When the company filed for Chapter 11 bankruptcy protection in May (five days after Marinello resigned), it had about $19 billion in debt.
At PODS, Marinello will take over a company that provides residential and commercial services in 46 U.S. states, Canada, Australia and the United Kingdom. To date, the PODS network has completed over 1.2 million long-distance moves, over 5.4 million first deliveries, and over 227,000 PODS containers are in operation.
“When PODS introduced portable on-demand storage solutions, we changed the way the world thought about mobility and storage,” Marinello said in the release. “Our long-standing commitment to meeting the unique and personal needs of our customers is fundamental to who we are as a company, and that’s why we’re most excited about the opportunities in front of us.” Thing.”
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