Former Ford Motor Co. president and chief executive officer Mark Fields is now the interim CEO at Hertz.

Paul Stone, previously the CEO, is now the president and chief operations officer for the rental-car company.

In Tuesday’s news release, Hertz said the leadership change is “part of a vision for an all-new Hertz that combines the iconic company's brand strength and global fleet management expertise with new technology and innovations charting a dynamic, new course for travel, mobility and the auto industry.”

Fields joined Hertz’s board in June.

“It's an incredibly exciting time for Hertz, and we couldn’t be more thrilled to have Mark's leadership, first as a board director and now as interim CEO,” Hertz chairman Greg O'Hara said in the release.

“Mark’s extensive background in auto and technology will be critical as we remake Hertz for the future,” O’Hara said. “We are building from a renewed position of strength to reimagine the future, and Mark’s continued leadership on the Board and stepping in for the moment as interim CEO are important next steps to take us there.”

Hertz announced this summer that it successfully completed its Chapter 11 restructuring process and emerged as a “financially and operationally stronger company that is well-positioned for the future.” It appointed a new eight-member board. Hertz’s reorganization plan was confirmed by the federal bankruptcy court on June 10.

Fields spent 28 years with Ford, including three years as president and CEO.

“Hertz is a global icon, and I'm honored to help lead the company into its next 100 years,” Fields said in the release. “Hertz’s unmatched global footprint will be combined with forward-looking investments that completely change the face of travel and mobility. The world is going to be hearing a lot from Hertz in the weeks and months ahead.”

Stone had been Hertz’s CEO since May 2020, following his time as Hertz’s executive vice president and chief retail operations officer for North America.

“The Hertz board is deeply grateful to Paul for his service to the company during the restructuring process,” O’Hara said. “We were delighted that Paul decided to continue working with Hertz in a senior leadership role.”