Dollar Thrifty Automotive Group

Dollar Thrifty Automotive Group is the former holding company of Thrifty Car Rental and Dollar Rent A Car. Dollar Thrifty Automotive began to operate as an independent car rental subsidiary of the Chrysler Corporation on November 4, 1997 while continuing to support its two brands, Dollar Rent A Car and Thrifty Car Rental.[1][2] It was acquired by The Hertz Corporation for US$2.3 billion on November 19, 2012.[3]

Company development

Established in 1990 by the Chrysler Corporation, Dollar Thrifty Automotive was part of Chrysler's Pentastar Transportation Group in Tulsa, Oklahoma, which also included General Rent-A-Car and Snappy Car Rental.[4] Chrysler purchased Thrifty Rent A Car System, Inc. in 1989, and Dollar Rent A Car Systems, Inc. in 1990, forming Dollar Thrifty Automotive Group.[5]

Former key executives

Dollar Thrifty Automotive Group's first president and CEO, Joseph E. Cappy, was the final president and CEO of American Motors Corporation. He came to Chrysler in 1987 after it purchased AMC and was put in charge of Chrysler's car rental subsidiaries in 1993 as part of a corporate reshuffling following the retirement of Lee Iacocca.[12][13] Cappy oversaw the relocation of the company from Detroit to Tulsa in 1994 and its spin off from Chrysler in 1997.[14][15]

Gary L. Paxton was elected president and CEO of Dollar Thrifty Automotive in October 2003 in response to Cappy's retirement.[16][17] Paxton's career with Dollar Thrifty Automotive began after working for the first Dollar Rent A Car franchise in California in 1968; he later moved to senior management positions of Vice President of Operations (1972 to 1974), Vice President of Properties (1974 to 1982), Senior Vice President of Operations and Properties (1986 to 1990), Executive Vice President (1997 to 2002), and Chief Airport Negotiator of Dollar (1974 to 1990).[18] Paxton oversaw the automotive group's 7,000 employees—700 of which worked at the Tulsa headquarters—as well as the daily operation of both brands.[19]

In response to Paxton's retirement in December, Dollar Thrifty Automotive Group's Board of Directors announced Scott L. Thompson as the company's President, CEO, and newest board member in October 2008.[20][21] Paxton would provide consulting services to the car rental company through October 31, 2009.[22]

Thompson joined the company on May 23, 2008, as Senior Executive Vice President and Chief Financial Officer, stepping away from his role with Group 1 Automotive, a New York Stock Exchange listed and Fortune 500 company.[23] In addition, R. Scott Anderson, who joined the brand in 1987, would act as Senior Executive Vice President and be held responsible for corporate and franchise store operations, global sales, and marketing efforts.[24][25] Anderson was promoted to Chief Marketing Officer in 2008.[26]

type	Public
traded as	Formerly
defunct	November 19, 2012
fate	Acquired by The Hertz Corporation
hq location city	Tulsa, Oklahoma
hq location country	United States
industry	Car rental and Leasing
founded	November 4, 1997

Dollar Thrifty Automotive Group

Company development

The rental fleet

Former key executives

Acquisition by the Hertz Corporation

Dollar Rent A Car

Thrifty Car Rental

Awards and recognition

See also

External links

References