Avis Budget Group today announced that Bernardo Hees has been appointed to the company’s board of directors and named independent chairman of the board and chair of the board’s executive committee, effective immediately.
Over the last 15 years, Hees has served as CEO of The Kraft Heinz Company, Burger King Worldwide Holdings, Inc., and America Latina Logistica. He succeeds independent chairman Leonard Coleman, who will continue as a director.
Coleman has been a long-standing member of the board.
“We are extremely pleased to welcome Bernardo to the Board," Lynn Krominga, director and governance chair of the Avis Board, said in a statement. "He is a proven executive who has led some of the world’s leading consumer brands and has a successful track record in transportation and logistics. We are confident his experience and expertise will benefit Avis as we seek to maximize value for all its stakeholders.”
Hees is making a personal investment of $15 million in Avis shares to align his interests with those of all shareholders. The shares will be issued at the closing price of Avis common stock on Feb. 7.