Hertz 2011 Annual Report Download - page 20
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TRANSFORMATION
Since the beginning of 2007, Hertz has been undergoing a global transformation which
has generated significant savings and revenue growth. Because the process was based
on the concept of “continuous improvement,” our transformation will never stop as we
constantly innovate, expand markets and increase the value provided to customers and
shareholders alike. Since 2007, our transformation has resulted in efficiency savings
totaling more than $2.1 billion, more than 20% of overall costs, and incremental revenues
in 2011 of over $340 million. In 2012 and beyond, the transformation will include the
further evolution of our “asset-light” business model focused on technology-driven inno-
vations to decrease our brick-and-mortar footprint and expansion of our lower-capital
intensive franchise business globally. At all points along the way, the transformation at
Hertz will achieve balanced improvement in financial results, customer satisfaction and
employee satisfaction.
Enhancing Our
Business at All Levels
page 16