Dollar Thrifty Automotive Group Inc. announced Monday that Thomas P. Capo will be succeeded as chairman of the board by Richard W. Neu, effective immediately.
After more than 20 years' association with Dollar Thrifty and 13 years as a director, Capo notified the company that he intends to retire from the board at the 2011 annual meeting of stockholders.
"Tom has been a mainstay of the board. His deep knowledge of the company and the automotive industry has made him an invaluable member of the Dollar Thrifty team, particularly as we faced the significant challenges of recent years," said Scott L. Thompson, chief executive officer and president of the company. "We thank him for his contribution to our success, and we look forward to his continued association with Dollar Thrifty until his retirement in 2011."
Thompson continued, "We are also very pleased that Rick Neu has agreed to assume the chairmanship. Rick brings a wealth of experience and perspective to the board, and we are confident that the company will continue to thrive under his leadership."
Neu has been a director of Dollar Thrifty since February 2006, and most recently served as chief financial officer, treasurer and director of Charter One Financial Inc., a publicly held financial institution in Cleveland, Ohio.