Photo Release -- Avis Budget Group Announces Management Re-Alignment in Conjunction With Its Acquisition of Avis Europe
30 September 2011 - 10:30PM
Avis Budget Group, Inc. (Nasdaq:CAR) announced today that it plans
to create three new operating regions effective October 3, 2011,
when the acquisition of Avis Europe plc (LSE:AVE) is expected to be
completed. The three regions will include Europe, Middle East and
Africa (EMEA), North America, and Latin America/ Australasia. The
following management changes will take effect within these regions
as the Company moves forward with integration of the two companies:
- Larry D. De Shon has been appointed President, EMEA. Mr. De
Shon was previously Executive Vice President, Domestic (U.S.)
Operations, Avis Budget Group. In his new position, Mr. De Shon
will oversee the Avis and Budget car rental businesses in Europe,
the Middle East and Africa. Mr. De Shon succeeds Pascal Bazin,
formerly Chief Executive Officer for Avis Europe plc, who will stay
on with the Company until the end of the year in a consulting
capacity to assist in the transition.
- Thomas M. Gartland has been named President, North America,
which will now include the company's U.S. and Canadian operations.
In his new role, Mr. Gartland will be responsible for Operations,
Sales, Marketing and Customer Care across the region. Mr. Gartland
previously held the position of Executive Vice President, Sales,
Marketing & Customer Care, Avis Budget Group.
- Patric Siniscalchi has been named President, Latin
America/Australasia, overseeing the Avis and Budget car rental
businesses in the Caribbean, Central and South America, Asia,
Australia and New Zealand. Mr. Siniscalchi, who was previously
Executive Vice President, International Operations, Avis Budget
Group, will add the Asia operations of Avis Europe to his
responsibilities in these territories.
- David B. Wyshner has been named Senior Executive Vice President
and Global Chief Financial Officer, Avis Budget Group. Mr.
Wyshner will continue to oversee all financial functions including
Accounting, Acquisitions, Financial Planning & Analysis, Risk
Management, Treasury, etc., in addition to certain other corporate
functions including Corporate Communications and Information
Technology.
Photos accompanying this release are available at
http://www.globenewswire.com/newsroom/prs/?pkgid=10712
http://www.globenewswire.com/newsroom/prs/?pkgid=10713
http://www.globenewswire.com/newsroom/prs/?pkgid=10714
http://www.globenewswire.com/newsroom/prs/?pkgid=10715 "Our
re-aligned management team brings proven leadership and a strong
track record of strategic achievement and operational excellence to
our new regional structure," said Ronald L. Nelson, chairman and
chief executive officer, Avis Budget Group. "With the combined
leadership teams and workforces of Avis Europe and Avis Budget
Group, I believe that we are well positioned to compete as a truly
global Company."
Mr. Gartland, Mr. Siniscalchi and Mr. Wyshner will continue to
be based in Avis Budget Group's World Headquarters in Parsippany,
N.J. Mr. De Shon will be based in the former headquarters of
Avis Europe plc in Bracknell, U.K. All four will continue to
report directly to Mr. Nelson. All other corporate functions,
including Strategy, Legal and Human Resources, will also continue
to report to Mr. Nelson.
These management changes will follow Avis Budget Group's
acquisition of Avis Europe plc, which has operated the Avis and
Budget brands in the EMEA regions, and the Avis brand in Asia,
under licenses from Avis Budget Group. The acquisition, which
will formally close on October 3, reunites the Avis and Budget
brands under the global ownership of Avis Budget Group.
About Avis Budget Group, Inc.
Avis Budget Group is a leading global provider of vehicle rental
services through its Avis and Budget brands. Upon completion
of the acquisition of Avis Europe plc, Avis Budget Group will serve
customers through more than 10,000 rental locations in
approximately 175 countries around the world. Avis Budget
Group has approximately 21,000 employees and is headquartered in
Parsippany, N.J. For more information, visit
www.avisbudgetgroup.com.
The Avis Budget Group, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8891
Forward-Looking Statements
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Statements preceded by, followed by or that otherwise
include the words "believes", "expects", "plans", and similar
expressions or future or conditional verbs such as "will", "may"
and "could" are generally forward-looking in nature and not
historical facts. Investors and security holders are cautioned not
to place undue reliance on these forward-looking statements, which
apply only as of the date of this press release. Avis Budget does
not undertake any obligation to update its forward-looking
statements to reflect events or circumstances after the date of
this press release.
The photos are also available at Newscom, www.newscom.com, and
via AP PhotoExpress.
CONTACT: Media
John Barrows
(973) 496-7865
PR@avisbudget.com
Investor Relations
Neal Goldner
(973) 496-5086
IR@avisbudget.com
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