Herc Holdings Names Aaron Birnbaum CEO in 2027 and Reshuffles Board
Key Facts
Herc Holdings announced a leadership succession plan under which Aaron Birnbaum will become chief executive officer effective January 1, 2027, while Larry Silber moves to the role of executive chairman. Birnbaum will also remain company president and join the board. The company said the change is part of the leadership succession plan disclosed in its statement and confirmed in a filing with the U.S. Securities and Exchange Commission. Silber is leaving the CEO role, which he has held since 2015, and has been a board member since 2016. The arrangement places executive management responsibility with the current company president while keeping Silber on the board in an executive capacity.
Birnbaum’s appointment marks an internal transition for an executive with a long career at the company and Herc Rentals, where he has more than 35 years of experience. He was appointed president in January 2026, after serving as senior vice president and chief operating officer since 2020. Herc says his leadership was one of the key factors in its success, while Silber expressed confidence in his ability to lead the company in its next phase. Silber said: "Aaron’s leadership has been essential to this success, and I am confident he is the right person." The plan thus combines the appointment of an executive who previously led operations with Silber’s continued leadership role on the board.
The plan includes other changes to board governance, effective alongside the CEO role change on January 1, 2027. Patrick Campbell moves from board chairman to independent director, while continuing as chair of the audit committee. Michael Kelly will become lead independent director, in addition to chairing the nominating and governance committee. Campbell’s move from board chairman is part of a redistribution of roles between the executive chairman and independent directors. The arrangements keep Campbell on the board and audit committee, while giving Kelly a central independent role in the governance structure.
Herc Holdings operates in equipment rental, and says it was founded in 1965 and operates 607 locations across North America. Its total revenue was about $4.4 billion in 2025, according to the company’s statement. Results for that year show record total revenue of $4.376 billion, up 23% from 2024, while equipment rental revenue rose 18% to $3.770 billion. These figures put the succession plan in the context of a company that grew revenue in 2025 as its equipment rental business expanded. In its second-quarter 2026 presentation, the company said activity tied to megaprojects was accelerating and set a long-term revenue mix target of 60% local markets and 40% national accounts.
HRI shares closed at $128.11 on October 23, 2026, according to EL7 data. The succession plan announcement came as the company’s next financial disclosure approached, putting third-quarter results among the key near-term events for investors. Herc set October 27, 2026, to release third-quarter results before the market opens. An investor call will follow the results release at 8:30 a.m. Eastern Time. The date comes one day after the announcement date cited in the company’s materials and gives investors a view of quarterly performance before Birnbaum becomes CEO in early 2027.