Avis Board of Directors Announces Strategic Management Plan

Avis Rent A Car, Inc. recently announced that its Board of Directors has finalized a management plan for the company. The announcement comes as a result of the acquisition of PHH’s Vehicle Management Business and Wright Express, which closed on June 30, 1999. Avis’ new management team will consist of F. Robert Salerno, Kevin M. Sheehan and Mark E. Miller.

Salerno, who is currently president and COO of Avis Rent A Car, Inc. — Rental Car Group, will continue to direct Avis’ rental car business. Sheehan, president of Avis Rent A Car, Inc. — Corporate and Business Affairs, will be responsible for directing all of the corporate and administrative functions, as well as directing the overall company’s financial reporting and investor communication efforts. He has also been tasked with spearheading the company’s efforts of maximizing the revenue and synergistic opportunities inherent with the new Avis. And, directing Avis’ vehicle management and card service businesses will be Miller, president and COO of Avis Rent A Car, Inc. — Vehicle Management Services Group. The combined management team will report directly to the Executive Committee of the Board.

Travel businesses now must pay more attention to this growing market segment, especially because allegiances are still forming.

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