Read Hertz CEO's letter to employees about Bill Ackman's 'significant' stake in the rental car firm

Core Insights - Hertz Global CEO Gil West expressed encouragement and energy regarding Bill Ackman's significant investment in the company, highlighting the support from prominent investors as a positive sign for Hertz's strategy [1][3] - Ackman's investment firm, Pershing Square, disclosed a substantial stake in Hertz, which led to a more than doubling of the company's shares during the trading week, closing at $8.24 per share [2] - Pershing Square increased its position in Hertz from 4.1% at the end of 2024 to 19.8%, making it the second-largest shareholder of the company [4] Company Developments - The CEO's message to employees emphasized the importance of the endorsement from Ackman and the confidence it reflects in Hertz's ongoing strategy [3] - Hertz did not provide additional comments regarding Ackman's stake in the company, indicating a focus on internal communication and strategy [3] Investment Activity - Pershing Square received an exemption from the U.S. Securities and Exchange Commission to delay the filing of its increased position, allowing for the accumulation of more shares before the public disclosure [4]