Herc Holdings names Aaron Birnbaum as next CEO, Larry Silber to become executive chairman

what happened

Herc Holdings, one of North America's largest equipment rental suppliers, has outlined a leadership handover. Aaron Birnbaum, currently the company's president, will take over as chief executive from Larry Silber starting January 1, 2027, and will also join the board. Silber, who has led the firm since 2015 and sat on its board since 2016, will become executive chairman.

Birnbaum has spent more than 35 years with Herc and its predecessor business. He was named president in January 2026 and had held the chief operating role since 2020. Board chairman Patrick Campbell will also move at the same time, staying on as an independent director and chair of the audit committee, while Michael Kelly becomes lead independent director.

why it matters

The handover is planned and internal, so on its own it is unlikely to move the broader equipment rental sector. Investors will watch whether the new CEO keeps the strategy and the pending H&E Equipment Services acquisition, which the company lists among its risk factors. According to the company, 2025 revenue was about $4.4 billion across 607 North American locations.

market impact

Herc Holdings (HRI): planned CEO change to an internal successor, limited effect on the stock

tags

instruments