Hertz Global Holdings chairman and chief executive officer Mark Frissora has resigned from his position for personal reasons, the company said in a statement Monday morning.   

Appointed by the company’s board of directors to serve as interim CEO is Brian MacDonald, the president and CEO of Hertz Equipment Rental Corp.

Appointed as independent non-executive chair of the board is Linda Fayne Levinson, who is the independent lead director of the Hertz board.

Frissora had been with Hertz since July 2006, when he came over from his post as chairman and CEO of Tenneco.

A search process to find a permanent CEO has been started by the board, whose nominating and governance committee — made up entirely of independent directors — will lead the search.

During, the process, which will include the help of an executive search firm, internal and external candidates will be considered, the company said.

“During Mark's tenure, Hertz has transformed from a single on-airport car rental brand to a world leading rental car company with a portfolio of brands that reach multiple consumer and business segments both on- and off-airport,” Levinson said. “With the acquisition of Donlen, not only did he bring the company into fleet leasing, but acquired important technology that gives both leasing and car rental a competitive advantage. We appreciate his strong commitment to Hertz.”

She added: “We are fortunate to have a proven leader of Brian's caliber and experience to step into the CEO role on an interim basis while the board conducts its search process. Since joining the company, he has hit the ground running. He is a hands-on leader, and we know that he will be actively leading the company forward executing our strategic imperatives during this period.

“Brian has the board’s full support to execute the changes needed to drive shareholder value. We are confident that Brian's abilities and experience at Hertz and elsewhere, together with the talent of the current management team, will ensure a smooth leadership transition for the benefit of all our stakeholders," Levinson went on to say.