Eight Executives To Help ANC Create Long Term Shareholder Value
FORT LAUDERDALE, Fla., Nov. 18 /PRNewswire/ -- Michael Egan, Chairman, and
Michael S. Karsner, President and CEO, of ANC Rental Corporation today
announced the appointment of the new company's senior management team.
They are: Karen Beard-President, North America; Kathleen Hyle-Senior Vice
President and Chief Financial Officer; Howard Schwartz-Senior Vice President
and General Counsel; Mary Wood-Senior Vice President, Shared Services; Todd
Faver-President, CarTemps USA; Edward Jones-Senior Vice President, Human
Resources; Cheryl Budd-Senior Vice President, Corporate Communications; and
Dennis Custage-President, International.
ANC will be spun-off to AutoNation (NYSE: AN) shareholders as a tax-free
share dividend in January 2000. ANC comprises the Alamo, National and
CarTemps USA vehicle rental companies. Headquartered in Fort Lauderdale,
Florida, ANC will trade independently on the New York Stock Exchange under the
symbol "ANR."
"Our team will begin immediately to focus on driving shareholder value by
providing an exceptional customer experience, enhancing the value of each
brand, and maintaining and sustaining a competitive cost structure," said
Michael S. Karsner, ANC President and CEO.
Egan said, "We have assembled a very experienced team to launch ANC. Not
only are they proven professionals in the car rental industry but also they
have worked together for many years. Our commitment and knowledge of the
industry will create a great company."
Karen Beard - President, North America: Beard is currently President of
Alamo, a position she has held since November 1998. In her new position, she
will be responsible for the continued growth and profitability of two brands
-- Alamo and National -- within North America. She will oversee all brand
activities as well as operations, reservations, revenue management and fleet
management. A 19-year veteran of Alamo, Beard is thoroughly familiar with
every aspect of the industry. She has held a variety of senior positions
including Senior Vice President of Sales, Marketing and Advertising; Senior
Vice President of Sales, Marketing and Revenue Management; Senior Vice
President of North American Operations; and Vice President of North American
Sales.
Kathleen Hyle - Senior Vice President and Chief Financial Officer: Hyle is
currently Vice President, Finance and Treasurer for AutoNation, a position she
has held since joining AutoNation in April 1997. In her new capacity, she will
exercise overall strategic responsibility for ANC Rental Corporation's
financial activities including the treasury, tax, financial reporting,
accounting, internal audit and investor relations. Prior to joining
AutoNation, Hyle was with Black and Decker Corporation for 17 years where she
held a number of finance and treasury positions including Vice President and
Treasurer.
Howard Schwartz - Senior Vice President and General Counsel: Schwartz is
currently Vice President and Deputy General Counsel for AutoNation, a position
he has held since October 1997. He has been responsible for the litigation,
employment, benefits, trademark and compliance functions of AutoNation. In his
new position as Senior Vice President and General Counsel for ANC, he will
oversee all aspects of the company's legal functions. His broad experience
consists of 23 years at the national law firm of Eckert Seamans where he was
the partner-in-charge of the Firm's Florida operations, a member of the
Executive Committee, and Co-Chairman of its Litigation Department. He also
served as Senior Vice President and General Counsel of Alamo.
Mary Wood - Senior Vice President, Shared Services: Wood is currently Vice
President and Controller for AutoNation, a position she has held since May
1998. In her new position, Wood will be responsible for information
technology; payroll and benefits administration; facilities; and claims
administration. She also served as AutoNation's Vice President of Internal
Audit and as Alamo's CFO and Executive Vice President of Business Services.
Prior to joining Alamo, she was a partner with KPMG Peat Marwick LLP, where
she worked from 1977 to 1995.
Todd Faver - President, CarTemps USA: Faver is currently President of
AutoNation's Canadian Operations, a position he has held since December 1998.
In his new position, he will oversee CarTemps USA, the nation's second largest
local insurance replacement car rental company. Currently residing in
Toronto, Faver will relocate to CarTemps headquarters in Solon, Ohio. Faver
joined National Car Rental in 1980 and quickly rose to senior level positions
in fleet service, operations, and in 1996, was appointed President of
National Car Rental, Canada.
Edward Jones - Senior Vice President, Human Resources: Jones is currently
Vice President, Human Performance Organization for AutoNation's North American
Rental Group, a position he has held since June 1999. In his new position, he
will maintain overall responsibility for ANC's human resources function. Jones
joined AutoNation as Corporate Vice President, Human Performance Organization
in 1997. He has more than 25 years professional experience with large, high-
profile employers such as Express, Inc., and Dress Barn, Inc. He is also
expert in the areas of labor relations, organizational development,
diversity/affirmative action and strategic planning.
Cheryl Budd - Senior Vice President, Corporate Communications: Budd is
currently Director of Corporate Communications at Alamo Rent A Car, a position
she has held since May 1999. Her new position will include responsibility for
internal and external communications for ANC Rental Corporation and its
brands. During her 20-year career in communications, she has been President
of her own public relations, advertising and marketing firm with offices in
New York and Florida; Vice President of Corporate Communications for a
national insurance services company (NCCI); and Public Affairs and Media
Relations Director for the country's second largest trade association.
Dennis Custage - President, International: Based in London, England,
Dennis is currently President, International, where he directs the activities
of Alamo and National outside the United States and Canada, a position he has
held since June 1999. At ANC Rental Corporation, Dennis will continue to be
responsible for the growth and profitability of both brands for the same area.
Before joining AutoNation, Dennis was the founder and President of Global
Boardroom Solutions, a consulting company providing strategic support in
global markets. Fluent in Portuguese and Spanish, he has served in a variety
of senior positions in the United States and around the world with Ryder
System, Inc., Xerox, the TI Group and Nortel.
AutoNation, Inc. is the world's largest automotive retailer, with 406
automotive retail franchises in 19 states and 39 AutoNation USA used vehicle
megastores in 13 states. AutoNation also operates more than 270 automotive
retail Web sites and its AutoNationDirect.com Web site offers the largest
selection of new and used vehicles at one low no-haggle price on the Internet.
The Company also owns and operates Alamo Rent-A-Car, Inc., National Car Rental
System, Inc. and CarTemps USA, which operate automotive rental facilities
throughout the United States and in more than 65 other countries and will
become ANC Rental Corporation in January 2000.
SOURCE ANC Rental Corporation