Dollar Thrifty Group Planning Chief Steps Down
29 May 1999
Higgs to Continue as ConsultantTULSA, Okla., May 28 -- Dollar Thrifty Automotive Group, Inc. , today announced that Jeffrey B. Higgs has resigned from his current position as Executive Vice President, Corporate Planning, however he will continue to serve the company in a consulting capacity. The announcement was made by Joseph E. Cappy, Chairman, President and CEO. "We are grateful for Jeff's contributions to the company during our formative year following the December 1997 Initial Public Offering and we look forward to his continuing to assist the company on a part-time schedule," Mr. Cappy said. "We realize that Jeff's commitment to work with us on a commuting basis was difficult to personally sustain and we look forward to his continuing contributions. "I'm pleased to have been able to contribute to the company on a full-time basis during the past year and look forward to working with the company on a part-time schedule," Mr. Higgs said. "We have made several significant accomplishments and look forward to completing the projects currently in development. Following my 28 years with Chrysler Corporation, several of which involved Dollar and Thrifty as Chrysler subsidiaries, I am pleased to see the companies succeeding and look forward to the achievement of their aggressive growth plans." Dollar Thrifty Automotive Group, Inc. owns Dollar Rent A Car Systems, Inc. and Thrifty, Inc. The Dollar and Thrifty systems have worldwide locations in approximately 75 countries including 900 corporate and franchised locations in the United States and Canada. The companies provide car rental services primarily to value-conscious discretionary and leisure travelers. Dollar has on-airport locations at major airports throughout the United States with a focus on serving the leisure and international tour business. Thrifty serves both the airport and local car rental markets, is a leading lessor of rental vehicles to car rental franchisees and operates a franchised retail used car sales network. Some of the statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Dollar Thrifty Automotive Group, Inc. believes such forward-looking statements are based upon reasonable assumptions, such statements are not guarantees of future performance and certain factors could cause results to differ materially from current expectations. These factors include: economic and competitive conditions in markets and countries where our customers reside and where our companies and their franchisees operate; changes in capital availability or cost; costs and other terms related to the acquisition and disposition of automobiles; the ability of the company and its third party providers, vendors, suppliers and independent franchisees to adequately address the Year 2000 issue; and certain regulatory and environmental matters. Should one or more of these risks or uncertainties, among others, materialize, actual results could vary from those estimated, anticipated or projected. Dollar Thrifty Automotive Group, Inc. undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.