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BUDGET RENT A CAR CHAIRMAN CLIFTON E. HALEY TO RETIRE WILLIAM N. PLAMONDON PROMOTED TO PRESIDENT, CHIEF OPERATING OFFICER

 BUDGET RENT A CAR CHAIRMAN CLIFTON E. HALEY TO RETIRE
 WILLIAM N. PLAMONDON PROMOTED TO PRESIDENT, CHIEF OPERATING OFFICER
 LISLE, Ill., June 25 /PRNewswire/ -- Budget Rent a Car Corp. today
 announced that Clifton E. Haley, 61, the chairman, president and chief
 executive officer of Budget Rent a Car, will retire on Jan. 2, 1993.
 The company's board of directors at its regular meeting yesterday
 elected William N. Plamondon, 44, a 14-year Budget veteran, president
 and chief operating officer and a member of the company's board of
 directors. The board also announced that Plamondon will become Budget's
 chief executive officer upon Haley's retirement. Plamondon previously
 was executive vice president, general manager of North America. Between
 now and the date of his retirement, Haley will work with Plamondon to
 affect an orderly transition.
 Budget's board also named Kevin McShea, 37, executive vice
 president, chief financial officer. He was previously senior vice
 president, chief financial officer. He also was elected a member of
 Budget's board of directors effective June 24, 1992.
 In addition, the board approved the promotion of Herb Luckwaldt and
 David Sparks. Sparks, 39, was elevated to senior vice president of
 marketing and sales from senior vice president of marketing. Luckwaldt,
 48, Budget's senior vice president of operations, has temporarily
 relocated from Budget's Chicago headquarters to the company's London
 office to replace Peter Crouch, who has left the company.
 Haley will continue to serve on the board of directors and will
 remain at Budget until his retirement to facilitate a smooth management
 transition.
 Haley joined Budget as senior vice president of franchise
 development in 1977 from Ford Motor Company. He became president in
 1986 following a successful leveraged buy-out from Transamerica Corp.
 Haley has been chairman and chief executive officer since 1988.
 Under Haley's leadership, the company's system wide revenues have
 nearly doubled to $2.1 billion, and rental locations have grown to about
 3,500 in 110 countries and territories. Haley also initiated a
 strategic program to acquire licensee operations to position Budget as
 the pre-eminent global car rental provider.
 Budget Rent a Car is the third-largest car and truck rental company.
 In the United States Budget has more than 1,100 locations, including
 nearly 300 U.S. airport locations.
 -0- 6/25/92
 /CONTACT: Tim Hermeling, 708-955-7167, or Heidi Yeranossian,
 212-536-8712, both of Budget Rent a Car/
 CO: Budget Rent a Car Corp.
 ST: Illinois
 IN: LEI
 SU: PER


AH -- NY039 -- 3774 06/25/92 12:31 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jun 25, 1992
Words:409
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