Avis Budget Group, Inc. (Nasdaq:CAR) (the "Company") today announced the appointment of Alun Cathcart to its Board of Directors effective October 3, 2011. Mr. Cathcart fills a newly created seat and will serve for a term scheduled to end at the 2012 annual meeting of stockholders. With the addition of Mr. Cathcart, the Company's Board is now comprised of ten members.
A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10718
Mr. Cathcart brings extensive international business and executive management experience to the Company's Board of Directors as Chairman of Avis Europe plc since 2004, a member of the Board of Avis Europe since 1997 and Chief Executive of Avis Europe from 1983 through January 1, 1999. Prior to joining Avis Europe in 1980, Mr. Cathcart held various executive positions over a career spanning 14 years in the transportation industry. Mr. Cathcart is currently Chairman for Palletways Group Limited and Andrew Page Holdings, and a non-executive director of Justice Holdings Limited.
"We are extremely pleased to welcome Mr. Cathcart to the Avis Budget Group Board of Directors," said Mr. Nelson, chairman and chief executive officer. "Mr. Cathcart's extensive experience and deep understanding of our industry will enhance the effectiveness of our Board."
Mr. Cathcart is expected to be an independent director in accordance with applicable NASDAQ rules and the Company's Director Independence Criteria.
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
The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress
CONTACT: Media
John Barrows
(973) 496-7865
PR@avisbudget.com