Chidsey to Leave Cendant

NEW YORK, N.Y. -- Cendant Corp. announced that John W. Chidsey, chairman and CEO of the company's Vehicle and Financial Services Divisions, has resigned from the company. He will remain a consultant to Cendant through the second quarter of 2003.

Kevin M. Sheehan, chief financial officer for Cendant, will assume additional responsibility for the Vehicle Services Division, which includes the Cendant Car Rental Group (Avis and Budget). His responsibilities will include spearheading the integration of Budget within the Cendant Car Rental Group.

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