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Mark Frissora

Mark Paul Frissora is an American business executive. He has been the CEO and president of The Hertz Corporation, and was the CEO and president of Caesars Entertainment until 2019.

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Mark Frissora
Frissora in 2025
Born
Mark Paul Frissora

August 1955 (1955-08) (age 70)1
Columbus, Ohio, U.S.
Alma materOhio State University (B.A.)
OccupationsBusiness executive and philanthropist
Years active1977–present
Websitemarkfrissora.com

Mark Paul Frissora (born August 1955)1 is an American business executive. He has been the CEO and president of The Hertz Corporation, and was the CEO and president of Caesars Entertainment until 2019.

Prior to his July 2015 appointment as Caesars' CEO,23 he had spent his career in various management positions at General Electric, Philips Lighting Company and Aeroquip-Vickers,45 as well as CEO and chairman of Tenneco and Hertz.

Frissora assumed the role of CEO of Tenneco in 2000. Prior to stepping down in 2006,6 he was attributed to raising Tenneco's revenue by 39 percent for a total of $4.4 billion.7 Frissora subsequently joined The Hertz Corporation as CEO in 2006.6 On January 1, 2007, he became company chairman.8

Frissora was named by Business Travel News as one of the most "Influential Business Travel Executives" of 2012.9 While at Hertz, Frissora participated in international business groups including Business Roundtable, the World Economic Forum,5 McKinsey CEO Advisory Council,1011 and the G100.11 In 2012, Frissora was presented with the Oliver R. Grace Award for Distinguished Service in Advancing Cancer Research.12 He stepped down from Hertz in September 2014.13

Early life and education

Frissora was born in August 195514 in Columbus, Ohio.7 He earned a B.A. from Ohio State University and later attended Babson College in Massachusetts.4 Frissora later enrolled in Thunderbird School of Management in Arizona where he studied executive development.4511

Career

Early management roles (1978–2000)

Frissora began his career in 1978 at General Electric.45 He remained with the company until 1987.15 Frissora moved to Philips Lighting Company, where he served as Director of Marketing for the Consumer Division in Somerset, New Jersey from November 1988 to January 1991.

He went on to serve as Vice President at Aeroquip-Vickers from 1991 to 1996.45

In 1996, Frissora repositioned to Tenneco, where he would again serve in several management positions. His initial role was VP of North American Emissions Control Operations for Walker Manufacturing. Frissora later served as Senior VP and General Manager of Tenneco's worldwide original equipment business from 1998 until March 1999. He was appointed CEO and President of Automotive Operations in April. He joined Tenneco's Board of Directors, of which he was elected chairman, in March of 2000.5

Growth at Tenneco (2001–2006)

As CEO and chairman, Frissora targeted growth markets and sought to diversify revenue streams. By 2004 he had developed revenue boosting strategies in a number of platforms, logistics, customers, markets and product lines at Tenneco.1617 By February 2005, and since 1999,18 Tenneco's share price had tripled.

Appointment to Hertz CEO (2006–2013)

In July 2006, Frissora accepted a position as CEO of The Hertz Corporation, a global American-headquartered car rental company, on the eve of the company's initial public offering (IPO). In January 2007, Frissora was subsequently appointed chairman.13 He oversaw the company through a number of transitions.19

Frissora oversaw the acquisition of Donlen Corporation, a fleet leasing company, in 2011.20

Other developments during Frissora's tenure included engineering Hertz's November 2012 acquisition of Dollar-Thrifty Automotive Group for $2.6 billion, after a two-year bidding war with Avis Budget Group.9 The deal expanded Hertz's car rental brand portfolio and yielded combined annual sales of US$10,200,000,000.21 As part of the deal, Hertz also sold its low-cost Advantage brand,22 and gave up 29 Dollar Thrifty airport locations.

Expansion of Hertz Corporation (2013–2014)

In May 2013,23 Frissora announced Hertz would relocate to Estero, Florida from New Jersey, with the new building to combine staff from both Dollar Thrifty and Hertz.24 By November 2013, Hertz was the "largest publicly traded rental car operator in the United States."19

By that time the total number of locations increased from 7,600 to 11,200.2225 In 2014 Reuters wrote that Frissora was "credited for the shrewd acquisitions that helped Hertz to grow into a $12.7 billion company - more than two-and-a-half times its value when it listed in 2006, shortly after Frissora took the helm."26

In the summer of 2014, activist investors at Hertz asserted they lacked confidence in management due to reported "accounting mistakes and internal control issues". Consequently, activist investors pushed for board and management replacements23 including Frissora.14 Citing personal reasons, he resigned as CEO, chairman, and director on September 8, 2014.68 Frissora officially left the roles in November that same year. Hertz reported Frissora's departure was "without cause".27

In 2020, the SEC charged Frissora with aiding and abetting when filing financial disclosures while he was CEO of Hertz.28 In August 2020, Frissora agreed to pay nearly $2 million to settle the charges.29

Appointment to Caesar's CEO (2015)

In February 2015, Caesars Entertainment Corporation announced Frissora would replace Gary Loveman as their new CEO30 and president, effective July 1, 2015.23 Frissora immediately joined the board3 and Loveman temporarily remained Caesars' chairman to help with the transition.2030

Several weeks prior to Frissora's January appointment,31 the company's casino operating unit had voluntarily filed for reorganization32 through a Chapter 11 bankruptcy.31 Caesars Entertainment Corp. awarded its chief executive officer $29.4 million in compensation for 2017, the year the casino operator emerged from bankruptcy, which included a $2 million salary, $4.5 million cash bonus, $16.5 million in retention-restricted stock, a long-term cash award of $6 million and $400,000 for repriced options.33

As CEO designee from February to July 2015, Frissora stated he had "visited most of [Caesars'] domestic properties, met with all of the company's senior leaders" and focused on "identifying new opportunities to drive growth and efficiency."2 Thereafter, he joined the board of Caesars Entertainment Corporation5 and was appointed president and CEO of Caesars Enterprise Services (CES), as well as the CES Steering Committee.34

On April 16, 2019, Caesars announced that Affinity Gaming CEO Anthony Rodio would be transitioning into the role of Caesars CEO within 30 days,35 replacing Frissora, who announced his intention to step down in November 2018.3637

Push for new gaming platforms (2016-2017)

After officially assuming position as of CEO and President of Caesars Entertainment.13 In September 2015, Frissora announced new experiments by Caesars to appeal to younger gamblers such as a "casino within a casino" on the Las Vegas Strip with interchangeable walls to change the feel of the space as needed and "skill-based slots", recently legalized by the state of Nevada.38 Under Frissora's leadership, in November 2015, Caesars announced it would cede management of its Horseshoe Casino Cleveland, Horseshoe Casino Cincinnati, and ThistleDown Racino resorts to Rock Gaming, with the transfer to be completed by June 2016.32

Frissora rang the opening bell for Nasdaq in New York in October 2017.39

Non-executive board and council memberships

Frissora has been involved with a number of boards and organizations beyond his direct employers. In June 2002 he joined of the board of NCR Corporation, holding a directorship at NCR until November 2009. He became a director of FMC Corporation in January 2004, a role he held until August 2006. In December 2009, he became a director at both Delphi Automotive PLC,5 and Delphi Holdings LLP,11 also joining Delphi's finance committee and their nominating and governance committee.13 Furthermore, in December 2009 he became a director of Walgreens Boots Alliance, holding the position until April 1, 2015.5

As a Walgreen Co. director, he was chairman of their finance committee as of 2014, as well as a member of their nominating and governance committee.11 He was chairman of Walgreens finance committee40 until he left the board in April 2015.41

He has been a member of the Business Roundtable since before 2005,42 and is on the World Economic Forum's Automotive Board of Governors.5 He is also a member of the G100.11

In February 2025, Frissora joined the Board of Directors of BioAdaptives, Inc., a company specializing in natural health and wellness products.43

Recognition and awards

Frissora was named No. 5 on Business Travel News' list of the 25 Most Influential Business Travel Executives of 2012.926 In addition, he was presented with the 2012 Oliver R. Grace Award for Distinguished Service in Advancing Cancer Research by the Cancer Research Institute.12

Personal life

Frissora is divorced from his ex-wife Jennifer Marie (née Brossman), with whom he has four children.4445

References

References

  1. Profile (with month/year of birth), companieshouse.gov.uk; accessed January 5, 2017.
  2. "Mark Frissora takes charge as CEO of Caesars Entertainment". Gaming Intelligence. July 1, 2015. Retrieved July 2, 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.
  3. "Caesars Entertainment (CZR) Says Mark Frissora to Become CEO, Loveman to Continue as Chairman". StreetInsider.com. February 4, 2015. Retrieved March 11, 2015.
  4. "Management". Caesars Entertainment Corporation. Archived from the original on October 4, 2013. Retrieved March 11, 2015.
  5. "Mark P. Frissora". Bloomberg. Retrieved October 3, 2016.
  6. "Leading in the 21st century: An interview with Hertz CEO Mark Frissora". McKinsey & Company. November 1, 2013. Retrieved March 11, 2015.
  7. Kramer, Reuben (March 8, 2015). "Incoming Caesars CEO Mark Frissora has work cut out". Press of Atlantic City. Retrieved October 3, 2016.
  8. "Frissora Steps Down as Hertz CEO, Chairman". Auto Rental News. September 8, 2014. Retrieved March 11, 2015.
  9. "The 25 Most Influential Business Travel Executives Of 2012". Business Travel News. January 22, 2013. Retrieved March 11, 2015.
  10. "Management - Mark P. Frissora". Caesars Entertainment. Archived from the original on October 4, 2013. Retrieved October 15, 2016.
  11. "Hertz chairman and CEO Mark Frissora steps down". Post Online Media. September 9, 2014. Retrieved March 11, 2015.
  12. "26th Annual Awards". Cancer Research Institute. October 17, 2012. Retrieved March 11, 2015.
  13. "Hertz Global Holdings Inc". Bloomberg Business. Retrieved March 11, 2015.
  14. Glothier, Mark (September 8, 2014). "Hertz Chief Frissora Steps Down After Missteps, Pressure". Bloomberg. Retrieved October 3, 2016.
  15. Florian Kratz, Ellen (April 18, 2005). "Get me a CEO from GE!". Fortune. Archived from the original on October 27, 2006. Retrieved October 3, 2016.
  16. "Execution and Discipline Drive Results: Tenneco Automotive Inc. 2004 Annual Report" (PDF). Tenneco Automotive. Retrieved March 15, 2015.
  17. Tita, Bob (June 4, 2005). "Tenneco looks abroad for expanding sales". Crain's Chicago Business. Retrieved March 15, 2015.
  18. "Tenneco Annual Report 2005: Global Growth by Design" (PDF). Tenneco Inc, Annual Report 2005. Retrieved March 15, 2015.
  19. Kirkland, Rik (November 2013). "Leading in the 21st century: An interview with Hertz CEO Mark Frissora". McKinsey. Retrieved October 3, 2016.
  20. "Caesars Entertainment Announces Management Transition". Caesars Entertainment. February 4, 2015. Retrieved March 15, 2015.
  21. Terlep, Sharon; Kendall, Brent (November 15, 2012). "Hertz to Get Approval of Dollar-Thrifty Deal". The Wall Street Journal. p. B9.
  22. "Hertz forecasts strong 2013 as pricing improves". Reuters via CNBC. July 29, 2013. Retrieved March 15, 2015.
  23. Engstrom, Tim (October 19, 2014). "Hertz financial health remains a mystery". News Press. Retrieved October 3, 2016.
  24. "Hertz CEO already has Naples roots". Business Observer. May 14, 2013. Retrieved October 3, 2016.
  25. "Hertz 2013 Annual Report". Hertz Corporation. Retrieved March 15, 2015.
  26. "Hertz CEO Mark Frissora is stepping down, citing personal reasons". Reuters. CNBC. September 8, 2014. Retrieved October 3, 2016.
  27. D. Stoll, John (September 19, 2014). "Hertz to Pay Ex-CEO Frissora $10.5 Million Cash In Separation Agreement". Wall Street Journal. Retrieved October 3, 2016.
  28. Layden, Steve McQuilkin and Laura. "Ex-CEO of Hertz agrees to pay back nearly $2 million in compensation after charges filed". The News-Press. Retrieved 2026-04-16.
  29. "SEC charges Hertz's former CEO with aiding financial reporting violations | CFO Dive". www.cfodive.com. Retrieved 2026-04-16.
  30. O'Keeffe, Kate (February 4, 2015). "Former Hertz CEO to Take Helm at Caesars". Wall Street Journal. Retrieved October 3, 2016.
  31. "Caesars casinos files for bankruptcy". Fortune. Reuters. January 1, 2015. Retrieved October 15, 2016.
  32. Farkas, Karen (November 2, 2015). "Rock Gaming takes over management of Horseshoe Cleveland Casino from Caesar's Entertainment". cleveland.com. Retrieved February 26, 2016.
  33. Ritcey, Alicia (10 April 2018). "Caesars Awards CEO $29 Million After Emerging From Bankruptcy". Bloomberg. Retrieved 11 May 2026.
  34. "Mark Frissora Becomes President and CEO of Caesars Entertainment Corporation". Caesars. July 1, 2015. Retrieved October 4, 2016.
  35. "Caesars Entertainment Appoints Tony Rodio as Chief Executive Officer". Caesars Entertainment Corporation. Retrieved 17 April 2019.
  36. Chappell, Carmin (1 November 2018). "Mark Frissora is out as CEO of Caesars Entertainment". CNBC. Retrieved 17 April 2019.
  37. Al-Muslim, Aisha (2018-11-01). "Caesars Entertainment CEO to Leave Next Year". Wall Street Journal. ISSN 0099-9660. Retrieved 2026-04-21.
  38. Pierceall, Kimberly (September 30, 2015). "Caesars' new CEO shocked with lack of casino innovation". The San Diego Union-Tribune. Retrieved October 3, 2016.
  39. Las Vegas Sun - “Caesars executives to ring Nasdaq's opening bell”, Thomas Moore, October 23, 2017
  40. "Meet the board". Walgreens. Retrieved 2016-10-04.
  41. "CEO and President Director and Chairman of Executive Committee". Mark Frissora - Caesars Entertainment Insider. Retrieved October 4, 2016.
  42. "Emma Bloomberg, Christopher Frissora". The New York Times. June 12, 2005. Retrieved October 3, 2016.
  43. "BioAdaptives Welcomes Mark Frissora, Acclaimed Business Leader, to Its Board of Directors". Wall Street Journal. 2025-02-03. ISSN 0099-9660. Retrieved 2025-02-11.
  44. "Tessa Frissora, John Barrett III". The New York Times. 2011-09-25. ISSN 0362-4331. Retrieved 2024-07-04.
  45. "Marriage of Brossman / Frissora". The Cincinnati Enquirer. 1978-01-15. p. 126. Retrieved 2024-07-04.
External links