Herc Rentals confirms CEO succession plan

Aaron Birnbaum, currently president of Herc Rentals, will succeed Larry Silber as CEO from 1 January 2027. Birnbaum will also continue as president and join the board. Silber, who has been CEO since 2015 and a board member since 2016, will become executive chairman.

“Leading Herc Rentals over the past 11 years has been an honour and privilege, and I am incredibly proud of what our team has accomplished together,” said Silber.

“Our success has been built on the dedication of our people, a relentless focus on our customers and a clear strategy for long-term growth. Aaron’s leadership has been key to that success, and I am confident that he is the right person to guide Herc Rentals into its next chapter.”

Aaron Birnbaum, who will succeed Larry Silber as Herc Rental CEO from 1 January 2027.

Birnbaum has more than 35 years’ experience with Herc and its predecessor business. He was promoted to president in January this year having spent almost six years as senior vice president and COO.

In his time with Herc he has held roles in operations, sales, strategic planning and M&A activities. The company said he had played a “significant role in shaping the company’s strategy, strengthening its portfolio and driving disciplined execution across the organization.”

‘Honoured to take on role’

Birnbaum said; “I am honored to take on this role and grateful for the strong foundation Larry and our team have established. Having spent my career with Herc Rentals, I have tremendous confidence in our people and our strategy, and I have never been more energized by our technology, customer-focused solutions, and our execution.

“I look forward to building on our momentum, further strengthening our market leadership, and creating value for our customers, team members and shareholders.”

Larry Silber will become executive chairman of Herc Rentals. (Photo: Herc Rentals)

Patrick Campbell, Herc’s board chairman, thanked Silber for his “exceptional leadership” over the past 11 years; “He has guided Herc Rentals through a period of significant transformation, including its 2016 spinoff to an independent public company, record expansion of its geographic reach and specialty rental capabilities, advances in customer-facing technologies, and the landmark acquisition of H&E Equipment Services.

“Aaron has been an integral part of that progress, and his strategic vision, operational expertise and proven leadership give the board great confidence in the company’s future.”

As a consequence of the succession process, Campbell will become an independent director on the board and continue to serve as chairman of Herc’s audit committee.

Michael Kelly, currently an independent director, will take on the role of lead independent director and continue as chairman of the nominating and governance committee.