Hertz Corporation Appoints New Chief Accounting Officer, Mark Kosman

Strategic Insights -

The Hertz Corporation, a Delaware-based holding company, has filed a Form 8-K with the U.S. Securities and Exchange Commission announcing the appointment of Mark Kosman as its new Senior Vice President, Chief Accounting Officer. Kosman, who previously served as Chief Accounting Officer at Ford Motor Company, will assume the role no later than September 1, 2025. The appointment is part of the company's succession planning efforts, with Katherine Lee Martin, the outgoing Executive Vice President, General Counsel, and Secretary, to remain in her position through August 15, 2025.

Key Takeaways:

  • Mark Kosman, age 60, has been appointed as Senior Vice President, Chief Accounting Officer of the Hertz Corporation, effective no later than September 1, 2025.
  • Kosman will receive an annual base salary of $450,000 and will be eligible for short-term and long-term incentive awards, with a target award equal to 50% of his eligible earnings and an annual target equity award value equal to 80% of his annual base salary.
  • Kosman's short-term and long-term incentive awards for 2025 will be pro-rated for time worked in 2025, and he will receive a one-time $300,000 cash award, less applicable taxes, subject to full or partial repayment to the Company if he voluntarily terminates his employment or if his employment is terminated by the Company for cause within the first two years of his employment.
  • Kosman will receive relocation assistance in the form of a net cash payment of $50,000, subject to full or partial repayment to the Company if Kosman voluntarily terminates his employment within the first two years of his employment.
  • The selection of Kosman to serve as Chief Accounting Officer was not pursuant to any arrangement or understanding with respect to any other person.
  • Katherine Lee Martin, the outgoing Executive Vice President, General Counsel, and Secretary, will remain in her position through August 15, 2025, while an internal interim general counsel will be appointed upon her departure.

Statistics:

  • Kosman will receive a one-time $300,000 cash award, less applicable taxes, subject to full or partial repayment to the Company.
  • Kosman's short-term and long-term incentive awards for 2025 will be pro-rated for time worked in 2025.
  • The net cash payment of $50,000 to Kosman for relocation assistance is subject to full or partial repayment to the Company if Kosman voluntarily terminates his employment within the first two years of his employment.
  • Kosman will be subject to standard restrictive covenants, including a non-competition covenant, as well as the terms and conditions of any clawback policy in effect from time to time.

Sources:

  • UNITED STATES SECURITIES AND EXCHANGE COMMISSION, Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, August 1, 2025.