DGAP-News: Photo Release — Avis Budget Group Announces Management Re-Alignment in Conjunction With Its Acquisition of Avis Europe
Avis Budget Group, Inc.
PARSIPPANY, N.J., 2011-09-30 14:30 CEST (GLOBE NEWSWIRE) —
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 (LN: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
— 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
— 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
–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 fourwill
continue to report directly to Mr. Nelson. All other corporate functions,
including Strategy, Legal and Human Resources, will also continue to report to
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
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
News Source: NASDAQ OMX
30.09.2011 Dissemination of a Corporate News, transmitted by DGAP –
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP–s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Company: Avis Budget Group, Inc.
End of Announcement DGAP News-Service