NEW CEO TAKES THE DRIVING SEAT – Car rental leader looking forward to a good year as financial results show growth
Europcar today announced the appointment of Philippe Guillemot as new CEO of the Europcar group. Phillipe succeeds Salvatore Catania, who is leaving the role after 35 years with the company. Mr Catania will become Special Advisor to the new CEO to ensure a smooth transition and will continue to be closely involved in the Groups success.
Phillipe Guillemot will focus on leading the company into a strong 2010, after Europcar successfully weathered the difficult months which affected the entire travel industry. He will also oversee the groups growth and future development.
Phillipe Guillemot added, I am very happy to join a group as ambitious as Europcar and to work with its shareholder, Eurazeo. Europcar is facing exciting strategic challenges and considerable developments are already underway at the company, including the development of new mobility solutions. These challenges will allow the group to fully exploit the potential of its brand and highlight the quality of its services. Thanks to the considerable talent of its teams, Europcar will continue to grow and further consolidate its position as the market leader.
Further to this Europcar also announced its results for the 4th Quarter and full year of 2009. Despite the challenges posed in 2009 for the travel industry, Europcar has announced a good revenue performance in 2009 with 1.9 billion for the full year and 422 million for the 4th quarter.
This will be the 6th consecutive quarterly rise in Revenue Per Day (RPD), driving it up to 3.4% year on year at constant exchange rates. This reflects Europcars efforts over the past 18 months to size its fleet to demand, enhance its business mix, and focus on the highest-margin segments.