Avis Budget Group, Inc. (NASDAQ:CAR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k
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Avis Budget Group, Inc. (NASDAQ:CAR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) Departure of Director.
On January 19, 2017, Mr. Alun Cathcart notified the Board of Directors (the “Board”) of Avis Budget Group, Inc. (the “Company”) that he will retire from the Board, effective at the close of business on February 28, 2017. Mr. Cathcart’s retirement marks the culmination of a career that spanned more than thirty-seven years in the car rental industry. Mr. Cathcart joined Avis Europe Plc in 1980 and during his tenure, served as Chief Executive and later as Chairman of the Board until the Company acquired Avis Europe in 2011, at which time Mr. Cathcart became a director of the Company. The Company and the Board are grateful to Mr. Cathcart for his exemplary service.
The Board approved a reduction to the size of the Board from thirteen to twelve directors, effective immediately following the effectiveness of Mr. Cathcart’s retirement, to the Company’s Amended and Restated By-Laws.

About Avis Budget Group, Inc. (NASDAQ:CAR)

Avis Budget Group Inc. is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis is a rental car supplier and Budget is a rental vehicle supplier. It also owns Payless, which a car rental brand, and Apex, which is a car rental brand in New Zealand and Australia. It operates in two segments: Americas and International. The Americas segment provides and licenses the Company’s brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America and the Caribbean, and operates its car sharing business in certain of these markets. The International segment provides and licenses the Company’s brands to third parties for vehicle rentals and ancillary products and services in Europe, the Middle East, Africa, Asia, South America, Central America, the Caribbean, Australia and New Zealand, and operates its car sharing business in certain of these markets.

Avis Budget Group, Inc. (NASDAQ:CAR) Recent Trading Information

Avis Budget Group, Inc. (NASDAQ:CAR) closed its last trading session up +1.48 at 39.01 with 2,051,226 shares trading hands.