On May 15, 2013, the boards of directors of Hertz Global Holdings, Inc. and The Hertz Corporation (the companies) approved revisions to the by-laws of the companies in order to (i) in the case of Hertz Holdings, to change the advance notice provisions to require enhanced disclosures in connection with stockholder nominations to the Hertz Holdings board or proposals for consideration at stockholder meetings and (ii) in the case of Hertz Holdings and Hertz, to implement a new committee structure pursuant to which the boards of directors of the companies split the duties of the Compensation, Nominating and Governance Committee into separate compensation functions (to be handled by the new Compensation Committee) and nominating and governance functions (to be handled by the new Nominating and Governance Committee) and replaced the current Executive Committee with an Executive and Finance Committee, which would handle certain finance-related matters which are currently approved by the boards of directors in addition to the matters currently handled by the Executive Committee.

On May 15, 2013, Angel L. Morales, a director of Hertz Global Holdings, Inc. and its wholly-owned subsidiary The Hertz Corporation notified the Boards of Directors of the companies that he was resigning as a director of the companies effective immediately after the Board of Directors meeting held after the Annual Meeting held on May 15, 2013. Mr. Morales' decision to resign did not involve any disagreement with the companies, the management of the companies or the Boards of Directors of the companies.

Hertz Global Holdings, Inc. announced that Carolyn Everson and Debra J. Kelly-Ennis have been elected by the Board of Directors of Hertz and The Hertz Corporation as directors. Carolyn Everson serves as Vice President of Global Marketing Solutions for Facebook, Inc., where she manages the global marketing solutions team focused on expanding advertising revenue and managing significant, strategic accounts. Debra J. Kelly-Ennis served as President and Chief Executive Officer of Diageo Canada, Inc. from 2008 to June 2012.