This is what many CEO's do. Both for their own financial and reputation benefit, they feel the need to follow the political fashion, and bet big.
Would a CEO get feted on CNBC or gets $tens of millions in bonuses for saying: "I'm not sure about this EV trend, its very expensive for us, and customers don't want them. Rather My goal is to be sure I don't bankrupt the company, and grow our share 2% points in what is a very mature market."
They would never get the job
Therefore, everyone should blame the Board and Corporate Governance
Good post. To be fair to the guy who made the worst business decision of the last ten years outside of Anheuser-Busch, the car rental industry is one that is almost completely “commoditized.” Your customers are always looking for the cheapest option for the size and comfort level they want, so there are very few options for a major player like Hertz to set itself apart from its competitors. This is one that might have actually worked if they had done it in small steps instead of one big step.