LAKE FOREST, Ill. (July 12) — Mark Frissora, chairman, CEO and president of Tenneco Inc., will resign from the company July 19 to become CEO of Hertz Corp. and a member of its board of directors, Tenneco said.
The board of directors for the worldwide manufacturer and marketer of emission and ride control products and systems has established a search committee to look at internal and external candidates. Tenneco said it plans to name a replacement for Frissora within a few months and will hold a conference call with investors at 9 a.m. July 13 to discuss the leadership change.
In the interim, the board has established a four-person office of the chief executive to assume the CEO´s responsibilities. Paul Stecko, lead director of Tenneco´s board and chairman and CEO of Packaging Corp. of America, will become non-executive chairman of the board on an interim basis.