He Takes the Wheel for Hertz

Leon Greenebaum '27 has been named chief executive officer of the Hertz Corporation, the nation's largest car and truck renting and leasing company. As he steps into the driver's seat, Greenebaum has behind him 33 years of experience in the car and truck rental business.

Prior to assuming his new role, he was chairman of the board, a title he still retains. During the past five years he worked closely with the corporation's former president, Walter L. Jacobs.

Looking to the future, Greenebaum plans to continue to expand upon the firm's present policies. A major motivation behind these policies is Greenebaum's conviction that Americans are becoming users rather than owners of vehicles and other kinds of equisenger car as a status symbol is declining, he says, the trend is toward increasing growth in rental cars. He predicts that the rental of Hertz cars will soar from 850,000 to 1,500,000 within the next five years.

His career in this expanding field started in 1927 upon graduation from college. In that year he joined Metropolitan Distributors, Inc., a large truck leasing company, which had been founded by his father in 1907. Starting as a garage maintenance man, within a year he was promoted to dispatcher, and in 1930 he became treasurer and then vice president. In 1936 he was named president of the firm. In 1955 Metropolitan Distributors was acquired by the Hertz Corporation and Greenebaum was named vice chairman of the board and a director.

Expansion has been the key word since Greenebaum became associated with Hertz. He is credited with the formation of the highly successful overseas subsidiary, Hertz American Express, Ltd. In September of last year another subsidiary, Hertz Rent-All Corporation, was formed, which rents everything from party supplies to television sets, not to forget even a crib for a new baby.

In the future, according to Greenebaum, Hertz is also considering the possibility of expanding into other areas such as rental of boats, construction equipment, works of art, and houses and apartments.

Throughout his busy career, Greenebaum has found time for Dartmouth. He is currently Bequest Chairman of his class and has been a member of the Dartmouth Club of New York City.

Following both the Dartmouth tradition and his father's footsteps, Charles Greenebaum '55 has joined his dad and is now assistant vice president and director of Hertz real estate operations. So as the Hertz Corporation enters an era of continued expansion, the Greenebaum leadership is likely to be felt in a double way.

Leon C. Greenebaum '27