New York, N.Y. -- Cendant Corp. on Monday announced it has hired Ronald L. Nelson, COO for entertainment company DreamWorks SKG, as COO. Nelson also joined Cendant's board of directors.
Cendant is the parent company of Avis and Budget.
Nelson has served as COO of DreamWorks since its formation in 1994 by Hollywood moguls Steven Spielberg, David Geffen and Jeffrey Katzenberg. Nelson will assume his CFO duties at Cendant on May 12. He has more than 25 years of experience in corporate finance.
At DreamWorks, Nelson was instrumental in raising more than $5 billion in capital to launch the company. He was also responsible for developing the company's infrastructure and operating policies.
Prior to joining DreamWorks, Nelson was CFO at Paramount Communications. While there, he played a pivotal role in the $10 billion sale of Paramount to Viacom in 1993.