Published:
Avis Budget Group Appoints Eduardo G. Mestre to Board of Directors
Avis Budget Group, Inc. (NYSE: CAR), a
leading provider of vehicle rental services, today announced the
appointment of Eduardo G. Mestre to its Board of Directors. Mr. Mestre
fills a newly created seat and will serve for a term scheduled to end at
the 2009 annual meeting of stockholders. With the addition of Mr. Mestre,
the Board will be expanded to nine members, the majority of which will be
independent.
Mr. Mestre adds extensive financial and business expertise to our Board of
Directors as vice chairman of Evercore Partners since 2004 where he is
responsible for the firm's corporate advisory business. Prior to joining
Evercore, Mr. Mestre served as Chairman of Investment Banking at Citigroup,
among numerous leadership positions he filled during a notable twenty-seven
year career there. Born in Havana, Mr. Mestre is a summa cum laude
graduate of Yale and a cum laude graduate of Harvard Law School.
"Mr. Mestre's distinguished record and proven counsel will enhance the
effectiveness of our Board," said Mr. Nelson, chairman and chief executive
officer, "and we are certain that given his investment banking experience
and diverse background, he will be invaluable in helping guide Avis Budget
in the coming years."
Due to a payment made during 2006 by Cendant, as we were known at that
time, to Evercore Partners to render advice to its Board of Directors in
connection with the Cendant Separation, Mr. Mestre is not currently
eligible to be an independent director under applicable NYSE rules
until January 1, 2010. There have been no other relationships between the
Company and Mr. Mestre that would impact Mr. Mestre's ability to become
independent at such time.
About Avis Budget Group, Inc.
Avis Budget Group (NYSE: CAR) is a leading provider of vehicle rental
services, with operations in more than 70 countries. Through its Avis and
Budget brands, the company is the leading general-use vehicle rental
company in each of North America, Australia, New Zealand and certain other
regions based on published airport statistics. Avis Budget Group is
headquartered in Parsippany, N.J. and has more than 30,000 employees. For
more information about Avis Budget Group, visit www.avisbudgetgroup.com.
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Daily NewsTags: ,Automotive:Cars, ProfessionalServices:OtherProfessionalServices, Travel and Hospitality:Hotels, TravelandHospitality:Tourism, ,NYSE0001,NYSE0001,NYSE0001,NJ,PARSIPPANY, NJ
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