Avis Budget to face board battle

|About: Avis Budget Group, Inc. (CAR)|By:, SA News Editor

Avis Budget Group (NASDAQ:CAR) confirms it received notice from SRS Investment Management on its two nominees for the board.

SRS intends to nominate a total of five candidates for election to the board.

"We have had an ongoing dialogue and a cooperative relationship with SRS over the last two years and welcome the constructive input of all of our stockholders," says lead director Leonard Coleman.

"The Avis Budget Group Board is highly focused on maximizing stockholder value and has provided effective oversight of the management team as it has successfully led the Company through multiple market cycles and positioned it well for the future," he adds.

The board plans to present its own nominee recommendation in front of the 2018 annual meeting.

Shares of Avis are up 15% over the last 52 weeks.

Source: Press Release

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