Appointment of new Group Chief Executive

Avis Europe plc, a leading car rental company in Europe, Africa, the Middle East and Asia, today announces that Murray Hennessy will step down from the Board and his role as Group Chief Executive Officer on 31st December 2007. After three and a half years Murray and the Board have agreed that this is the right time to pass the leadership of the Group to someone who will take the business to the next stage of its development.

 

The company is delighted to announce that Pascal Bazin will join its Board as Group Chief Executive Officer on 1st January 2008. Pascal is currently Managing Director & President of Avis France and a member of Avis Europe's Executive Board, positions he has held since 20th May 2005.

 

Pascal Bazin, 50, is a graduate of École Polytechnique in Paris. He has successfully developed and led consumer facing businesses in France, Spain, Italy, Canada and the USA during his career with Yves Rocher and latterly Redcats, part of PPR Group, the world's third largest direct-selling business. Pascal has a strong track record of managing multi-channel distribution, network businesses, as well as significant brand management experience.

 

Alun Cathcart, Chairman of Avis Europe, said:

 

"I am delighted to announce the appointment of Pascal Bazin as CEO of Avis Europe. He is a proven, truly international operator, who has successfully led a number of consumer facing businesses both through turnaround and development situations. He has delivered a significant turnaround at Avis France during his two and a half years with us.

 

I would like to thank Murray for his significant contribution over the past three and a half years. He has been the key architect of Avis Europe's recovery strategy and has positioned the company for a return to profitable growth despite a backdrop of difficult markets. Today's trading update demonstrates that the strategy is starting to bear fruit. We wish him the very best for the future."

 

Murray Hennessy said:

 

"I have very much enjoyed working with the Board and the Avis management team to deliver the progress we've made so far. I am pleased that my successor is an experienced internal appointment who is well equipped to take the company forward."

 

Pascal Bazin said:

 

"Avis Europe has a strong brand, an excellent management team and the right global strategy in place. The challenge is to ensure that we deliver for our customers, shareholders and employees, despite a tough market. I am very enthusiastic to have the opportunity to lead Avis Europe through the next stage of its development."