Avis Budget To Combine Its Three Operating Regions Into Two

(RTTNews) - Avis Budget Group, Inc. (CAR) said that it plans to combine its three operating regions into two, the Americas and International. This realignment of the company's operations will take effect on January 1, 2015.

The company said the realignment of the operations will be in connection with the management changes.

Patric Siniscalchi, president, Latin America/Asia Pacific, will retire from his current position effective December 31, 2014, following an exemplary 43-year career at the Company and Thomas Gartland, president, North America, will retire from his current position effective December 31, 2014, after an impactful six-year career with the Company.

Joseph Ferraro, Senior Vice President, North America Operations, will assume the role of president, Americas, effective January 1, 2015. In this role, he will have responsibility for the company's operations in North and South America, including Latin America and the Caribbean, the company said.

Avis Budget noted that Siniscalchi is expected to continue to be involved with the company's joint ventures in China and Brazil through a consulting arrangement and to assist with the transition.