Avis Budget Group Appoints Jeffrey H. Fox to Board of Directors
PARSIPPANY, N.J., July 30, 2013 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc.
(Nasdaq:CAR), a leading provider of vehicle rental services, today announced
the appointment of Jeffrey H. Fox to its Board of Directors effective
immediately. Mr. Fox fills a newly created seat and will serve for a term
scheduled to end at the 2014 annual meeting of stockholders. With the addition
of Mr. Fox, the Company's Board is now comprised of ten members.
Mr. Fox brings significant leadership and executive management experience to
our Board of Directors as a principal of The Circumference Group LLC, an
investment and advisory firm, which he founded in 2009. Mr. Fox also serves as
non-executive Chairman of the Board of Convergys Corporation, where he also
held numerous leadership positions, including President and Chief Executive
Officer from 2010 to November 2012, and then Executive Chairman until April
2013. Mr. Fox worked for Alltel Corporation as Chief Operating Officer from
2007 through 2008, and as Group President from 2003 until 2007. Prior to
joining Alltel, Mr. Fox worked in investment banking for ten years with
Stephens Inc., preceded by two years with Merrill Lynch, specializing in
mergers and acquisitions advisory services.
"We are extremely pleased to welcome Mr. Fox to the Avis Budget Board of
Directors," said Ronald L. Nelson, Avis Budget Group Chairman and Chief
Executive Officer. "Mr. Fox's significant leadership record and his extensive
management experience will enhance the effectiveness of our Board."
Mr. Fox 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, Inc. is a leading global provider of vehicle rental
services, both through its Avis and Budget brands, which have more than 10,000
rental locations in approximately 175 countries around the world, and through
its Zipcar brand, which is the world's leading car sharing network, with more
than 790,000 members. Avis Budget Group operates most of its car rental
offices in North America, Europe and Australia directly, and operates
primarily through licensees in other parts of the world. Avis Budget Group has
approximately 30,000 employees and is headquartered in Parsippany, N.J. More
information is available at www.avisbudgetgroup.com.
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