Cendant Promotes Salerno to CEO of Rental Group

NEW YORK -- Cendant Corp. today announced the promotion of F. Robert Salerno to chief executive officer of the Cendant Car Rental Group, a subsidiary that operates the Avis and Budget rent-a-car systems.

Salerno, 52, has been president and chief operating officer of Cendant Car Rental Group since its creation following the acquisition of Budget in November 2002. He joined Avis in 1982 as vice president and was named president and COO in 1996.

"During Bob Salerno's tenure, he has been the steward of Avis' steadfast focus on quality and customer service," said Kevin M. Sheehan, chairman and CEO of Cendant's Vehicle Services Division.

Salerno has more than 30 years of experience in the car rental industry. He recently played an integral role in both the acquisition and integration of Budget.

"As we continue the integration of Budget this year, I can think of no individual better suited than Bob to complete the task and lead the Cendant Car Rental Group to even greater success in the future," added Sheehan.

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