Herc Holdings Inc. Expands Board with New Independent Directors

Herc Holdings Inc. (NYSE: HRI), a prominent player in the equipment rental industry in North America, has announced the election of two new independent directors to its Board of Directors, enhancing its governance and strategic oversight. This strategic move is set to take effect on January 1, 2026, and is a part of the company’s ongoing succession planning process.

John Olin joins Herc Holdings as an executive vice president and chief financial officer at Westinghouse Air Brake Technologies Corporation, a leading global rail technology company. Olin's extensive background includes a tenure as senior vice president and chief financial officer at Harley-Davidson, as well as financial leadership roles at Kraft Foods and Miller Brewing Company. He is a certified public accountant and holds a bachelor’s degree in accounting from Indiana University and an MBA from the University of Chicago.

Patrick Shannon, the second new appointee, brings a wealth of experience from his role as senior vice president and chief financial officer at Allegion plc, a global provider of security products. His career has seen him in various leadership positions, including vice president and treasurer at Ingersoll Rand and CFO at OneCoast Network Corporation. Shannon also holds a bachelor’s degree in accounting from the University of Georgia and an MBA from Mercer University.

Patrick Campbell, chairman of the Board of Directors, expressed enthusiasm about the new appointments, stating, “We are pleased to welcome John and Patrick to the Board. They each bring decades of relevant experience delivering growth as executives and directors of public companies. Their strategic and financial expertise will further strengthen the Board with complementary, value-additive skillsets.”

Larry Silber, Chief Executive Officer of Herc Holdings, echoed this sentiment, emphasizing the importance of their insights as the management team focuses on sustainable and profitable growth to enhance shareholder value.

With the addition of Olin and Shannon, the Board will temporarily expand from eight to ten members. This expansion comes as a strategic response to the planned retirement of James Browning, the current audit committee chair, who will retire in May 2026. Following Browning's retirement, the Board will be reduced back to nine members.

Founded in 1965, Herc Holdings Inc. operates through its subsidiary, Herc Rentals Inc., and has established itself as a full-line rental supplier across North America. Following its acquisition of H&E Equipment Services, the company boasts a network of 612 locations with projected total revenues of approximately $5.1 billion for 2024. Herc Holdings offers a range of products and services designed to aid customers in achieving efficiency and safety in their operations. With a workforce of around 9,900 employees, the company is committed to equipping customers and communities to build a brighter future.

As Herc Holdings Inc. embarks on this new chapter with the election of two seasoned professionals to its Board, stakeholders are eager to see how their combined expertise will influence the company’s trajectory in the competitive equipment rental market.