Mark Frissora

Mark Frissora on CNBC

Mark Paul Frissora (born 1956) is the CEO and member of the Board of Directors of Caesars Entertainment. He officially became CEO of Caesars Entertainment on July 1, 2015.[1][2] Frissora was the Chief Executive Officer of Tenneco from 2000 until 2006 and The Hertz Corporation from 2006 until September 2014.[3] He was also the company’s Chairman of the Board of Directors from January 1, 2007[4] until he stepped down in September 2014.[5]

Early life and education

Mark Frissora was born in 1956 and has a BA from Ohio State University.[6] He also attended the Babson College and the Thunderbird School of Management, completing executive development programs at those two institutions.[7]

Career

From 1987 to 1991, Frissora worked in a variety of management positions at Philips Lighting Company.[8] He was with Aeroquip-Vickers as vice president from 1991-1996 and spent 10 years in marketing and brand management at General Electric.[7]

Tenneco

In 1996 Frissora moved to Tenneco, where he served in several management positions, including as Chairman and CEO from 2000-2006.[6]

During Frissora’s tenure, Tenneco's share price more than tripled.[9][10] The company earned two top Automotive Industry shareholder awards for delivering the highest one-year and three-year shareholder returns of any automotive supplier.[9] Under Frissora’s leadership, Tenneco gained leading market share positions in its products.[11] Frissora implemented a strategic plan to target growth markets, and focus on further diversifying revenue streams.[11] Frissora created a diversity of platforms, geography, customers, markets and product lines.[11][12]

Hertz Corporation

In July 2006, Frissora was appointed as the CEO of The Hertz Corporation on the eve of Hertz’s initial public offering.[13] In the summer of 2008, Hertz offered discounts on gasoline and other fees in order to make car rental more customer-friendly and affordable.[14]

While at Hertz (2006 – 2013), worldwide revenues increased 34% to $10.8 billion; worldwide car rental revenues went up 37% to $8.7 billion. U.S. off-airport locations doubled and revenues increased by 45% while North America non-construction equipment rental revenues diversified from 50 to 65%.[15] Global corporate and licensee location footprint increased from 7,600 to 11,200.[15][16]

Other major strategic developments during Frissora’s tenure at Hertz include the acquisition of Dollar Thrifty in 2012, expanding Hertz’s car rental brand portfolio.[17]

Recognition and awards

Frissora was named one of Business Travel News’ Most Influential Business Travel Executives of 2012.[18] In addition, he was presented with the 2012 Oliver R. Grace Award for Distinguished Service in Advancing Cancer Research by the Cancer Research Institute.[19]

Additional directorships

He is a Director of Delphi Automotive Plc.[20] He is also a member of the McKinsey’s CEO Advisory Council.[21]

Personal life

Mark Frissora is married to Jennifer. They have four children and two grandchildren.[22]

His son, Christopher, is married to businessman Michael Bloomberg's daughter, Emma.[23]

References

  1. ↑ "Mark Frissora takes charge as CEO of Caesars Entertainment". GamingIntelligence. 1 July 2015. Retrieved 2 July 2015. Former Hertz chief executive Mark Frissora has taken over as president and CEO of Caesars Entertainment Corporation effective today, completing the transition plan announced by the operator in February earlier this year.
  2. ↑ "Caesars Entertainment (CZR) Says Mark Frissora to Become CEO, Loveman to Continue as Chairman". StreetInsider.com. 4 February 2015. Retrieved 11 March 2015.
  3. ↑ "Leading in the 21st century: An interview with Hertz CEO Mark Frissora". McKinsey & Company. 1 November 2013. Retrieved 11 March 2015.
  4. ↑ "Hertz Global Holdings Inc". Bloomberg Business. Retrieved 11 March 2015.
  5. ↑ "Frissora Steps Down as Hertz CEO, Chairman". Auto Rental News. 8 September 2014. Retrieved 11 March 2015.
  6. 1 2 "Mark P. Frissora". NNDB. Retrieved 11 March 2015.
  7. 1 2 "Management". Caesars Entertainment. Retrieved 11 March 2015.
  8. ↑ "Frissora Elected Tenneco Automotive Chairman". Tenneco. 15 March 2000. Retrieved 11 March 2015.
  9. 1 2 "Caesars Entertainment Announces Management Transition". Caesars Entertainment. 4 February 2015. Retrieved 15 March 2015.
  10. ↑ "Tenneco Annual Report 2005: Global Growth by Design" (PDF). Tenneco Inc, Annual Report 2005. Retrieved 15 March 2015.
  11. 1 2 3 "Execution and Discipline Drive Results: Tenneco Automotive Inc. 2004 Annual Report" (PDF). Tenneco Automotive. Retrieved 15 March 2015.
  12. ↑ Tita, Bob (4 June 2005). "Tenneco looks abroad for expanding sales". Crain's Chicago Business. Retrieved 15 March 2015.
  13. ↑ Wolf, Carol; Hester, Elizabeth (16 November 2006). "Hertz IPO Falls Short as Some Investors Balk Over Owner Payout". Bloomberg. Retrieved 11 March 2015.
  14. ↑ Jones, Justin (12 July 2008). "Getting People Into Cars, Despite the $4 Gas". New York Times. Retrieved 11 March 2015.
  15. 1 2 "Hertz 2013 Annual Report". Hertz Corporation. Retrieved 15 March 2015.
  16. ↑ "Hertz forecasts strong 2013 as pricing improves". Reuters via CNBC. 29 July 2013. Retrieved 15 March 2015.
  17. ↑ Gelles, David (27 August 2012). "Hertz completes Dollar Thrifty purchase". Financial Times. Retrieved 11 March 2015.
  18. ↑ "The 25 Most Influential Business Travel Executives Of 2012". Business Travel News. 22 January 2013. Retrieved 11 March 2015.
  19. ↑ "26th Annual Awards". Cancer Research Institute. 17 October 2012. Retrieved 11 March 2015.
  20. ↑ Gillingham, Kent. "What is the history of Mark P Frissora and the latest information about Mark P Frissora?". knoxcountycitizen.com. Retrieved 11 March 2015.
  21. ↑ "Hertz chairman and CEO Mark Frissora steps down". Post Online Media. 9 September 2014. Retrieved 11 March 2015.
  22. ↑ Wozniak, Mary (7 May 2013). "Hertz CEO: Southwest Florida feels like home". news-press.com. Retrieved 11 March 2015.
  23. ↑ http://query.nytimes.com/gst/fullpage.html?res=9E01E5DA1138F931A25755C0A9639C8B63
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