Face of Hertz exits (handsomely)

Ever since Hertz announced it would relocate its global headquarters to Estero from New Jersey, Richard Broome was the face of the company in Southwest Florida.

The executive vice president of corporate affairs and communications was the visible Hertz man at economic development conferences and numerous other community functions in Lee and Collier counties. He was the filter through which all information flowed and was the first point of contact for anyone who needed to reach executives.

That's because other Hertz executives are virtually invisible in the community as they deal with operational and accounting problems that have bedeviled the rental car giant. With those issues, plus activist investors such as Carl Icahn applying pressuring to split off the firm's equipment-rental division, who has time to for the rubber-chicken circuit?

So it was a surprise to learn recently that Broome resigned. It's not clear why he did so; Hertz officials didn't explain.

But don't feel too sorry for Broome.

Hertz outlined the terms of his departure in a recent filing with the U.S. Securities and Exchange Commission. Upon his departure, Broome gets a cash payment of $942,800, a prorated bonus based on the company's performance this year, any stock awards due to him this year, 18 months of health care premiums and $25,000 in outplacement benefits.