TULSA, Okla. -
Dollar Thrifty Automotive Group revealed this week that it has a new chairman. Replacing Thomas Capo in the position is Richard Neu. The change took effect immediately.
In addition to stepping down from the chairman post, Capo also told the company he plans to retire from the board of directors. Capo — who has been a director for 13 years — will do so at Dollar Thrifty’s stockholders meeting next year.
He has been associated with the company for more than 20 years, according to DTAG.
“Tom has been a mainstay of the board. His deep knowledge of the company and the automotive industry has made him an invaluable member of the Dollar Thrifty team, particularly as we faced the significant challenges of recent years,” stated Scott Thompson, Dollar Thrifty’s chief executive officer and president. 
“We thank him for his contribution to our success, and we look forward to his continued association with Dollar Thrifty until his retirement in 2011,” Thompson added.
With regards to Neu, he has served as a Dollar Thrifty director for more than four years. His most recent post was as Charter One Financial’s chief financial officer, treasurer and director.
“We are also very pleased that Rick Neu has agreed to assume the chairmanship,” Thompson noted. “Rick brings a wealth of experience and perspective to the board, and we are confident that the company will continue to thrive under his leadership.”
This chairman change comes after a drawn-out battle between Hertz Global Holdings and Avis Budget Group to acquire Dollar Thrifty this year. DTAG shareholders eventually voted down Hertz’s bid to purchase the company. It now appears more likely Avis will be successful.