Published by Global Banking & Finance Review®
Posted on April 19, 2025
2 min readLast updated: January 24, 2026
Add as preferred source on GoogleHertz CEO Gil West is humbled by Bill Ackman's endorsement as Pershing Square acquires a 19.8% stake, boosting Hertz's stock and future profitability.
(Reuters) - The CEO of Hertz said he feels humbled following comments by billionaire investor Bill Ackman, whose investment management company Pershing Square recently accumulated a 19.8% stake in the car rental firm.
"I am humbled, and we should all feel encouraged by Bill Ackman’s comments and energized by the strong support shown by him," Hertz CEO Gil West said in a letter to employees, seen by Reuters.
Ackman previously said in a post on X that he believes West and his management's efforts to increase unit revenue and reduce operating cost will significantly improve profit margin over the next several years. He added that the company's capital structure will enable shareholders to generate a highly attractive return on investment.
"While the tariff announcements have created a near-term cloud over the travel industry – we have low expectations for Hertz’s Q1 and first half results – we believe that over the intermediate term, the company will generate sustainably higher profitability," Ackman added.
Pershing's stake in Hertz makes it the second-largest shareholder in the company. Hertz shares soared 44.3% on Thursday. The stock has risen more than 125% since the start of 2025.
(Reporting by Abhinav Parmar in Bengaluru; Editing by Matthew Lewis)
The article discusses Hertz CEO Gil West's reaction to Bill Ackman's endorsement and Pershing Square's investment in Hertz.
Pershing Square holds a 19.8% stake in Hertz, making it the second-largest shareholder.
Ackman's endorsement led to a 44.3% rise in Hertz's stock and increased confidence in the company's future profitability.
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