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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Avis Budget Group, Inc.    CAR

AVIS BUDGET GROUP, INC.

(CAR)
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Avis Budget : To Deliver Avis Safety Pledge and Budget Worry-Free Promise Through Agreements with Lysol, Hip Hop Public Health and Renowned Group of Medical Professionals

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07/10/2020 | 10:41am EDT

Parsippany, New Jersey - (July 9, 2020) - Avis Budget Group (ABG) today announced the launch of an exciting and forward thinking coalition designed to enhance the cleanliness and disinfection of its rental facilities and vehicles. Along with ABG, the coalition includes RB, which is the maker of Lysol, and a team of medical professionals from leading institutions, including Columbia University, with expertise in public health, COVID-19, and other infectious diseases. The coalition is also joined by Hip Hop Public Health, which is a national nonprofit organization dedicated to fostering positive behavior change.

RB, which has been a longstanding customer of ABG, will help elevate ABG's cleanliness and disinfection protocols. A team of scientists and germ experts from RB, who are responsible for driving germ-kill innovation for Lysol, will review and provide ABG guidance on the latest science and best practices to optimize the efficacy of ABG's protocols. The introduction of Lysol products at ABG rental facilities and vehicles over the coming weeks is part of the new agreement with Lysol and will replace or supplement existing CDC-recommended and EPA-certified products that ABG currently uses.

'At RB, our mission is to protect, heal, and nurture in the relentless pursuit of a cleaner, healthier world. It is imperative that we protect all consumers, today and in the days ahead as we all look forward to new ways of returning to work and leisure activities, including travel,' said Rahul Kadyan, EVP, North America, Hygiene, RB. 'RB/Lysol has over 130 years of science-based research and thought leadership. We are excited to support ABG through awareness, training and education, and adequate product delivery in the hygiene and disinfection space.'

In addition, a group of highly acclaimed medical professionals will combine their knowledge and expertise to form the ABG Medical Advisory Council. The Council is chaired by Dr. Olajide Williams, Chief Medical Officer of Neurology at Columbia University and Founder of Hip Hop Public Health, and includes Dr. Amelia Boehme, Dr. Robert Bollinger, Dr. Gbenga Ogedegbe and Dr. Angela Rasmussen. Collectively, this external team will guide ABG in deploying effective tools and enhanced protocols grounded in the latest medical science to help curb the spread of infectious diseases. To cultivate training for ABG employees, the Council will collaborate with Hip Hop Public Health, a group known for its ability to curate music-centric content that drives positive behavior change.

'Updating safety protocols and maintaining fidelity to them requires a company to invest in behavior change in order to facilitate and sustain the uptake of new health-related behaviors by its workforce,' said Dr. Olajide Williams. 'We are grateful that ABG is focusing on safety by investing in the educational process of their employees. The right products and protocols need to be properly and consistently deployed by every single individual who is involved in the process to ensure public health safety.'

'Our commitment to the safety and satisfaction of our customers and employees is unwavering,' said Joe Ferraro, CEO of Avis Budget Group. 'Recovering from the impacts of a global pandemic requires innovative solutions and we are excited to announce the Avis Safety Pledge and our Budget Worry-Free Promise. Beyond words, we are taking a comprehensive set of actions through our coalition with Lysol, Hip Hop Public Health and highly esteemed expert medical professionals, aimed at ensuring the products, protocols, and training are in place to raise the bar for cleanliness and safety.'

About Avis Budget Group
Avis Budget Group, Inc. is a leading global provider of mobility solutions, both through its Avis and Budget brands, which have more than 11,000 rental locations in approximately 180 countries around the world, and through its Zipcar brand, which is the world's leading car sharing network, with more than one million members. Avis Budget Group operates most of its car rental offices in North America, Europe and Australasia directly, and operates primarily through licensees in other parts of the world. Avis Budget Group is headquartered in Parsippany, N.J.

For more information visit www.avis.com and www.budget.com

About RB
RB* is driven by its purpose to protect, heal and nurture in a relentless pursuit of a cleaner, healthier world. We fight to make access to the highest-quality hygiene, wellness and nourishment a right, not a privilege, for everyone.

RB is proud to have a stable of trusted household brands found in households in more than 190 countries. These include Enfamil, Nutramigen, Nurofen, Strepsils, Gaviscon, Mucinex, Durex, Scholl, Clearasil, Lysol, Dettol, Veet, Harpic, Cillit Bang, Mortein, Finish, Vanish, Calgon, Woolite, Air Wick and more. 20 million RB products a day are bought by consumers globally.

RB's passion to put consumers and people first, to seek out new opportunities, to strive for excellence in all that we do, and to build shared success with all our partners, while doing the right thing, always is what guides the work of our 40,000+ diverse and talented colleagues worldwide.

For more information visit www.rb.com/US

*RB is the trading name of the Reckitt Benckiser group of companies

About Hip Hop Public Health
Hip Hop Public Health (HHPH) is an internationally recognized organization that creates and implements multimedia public health interventions designed to improve health literacy, inspire behavior change and promote health equity. Through a research-driven developmental process created by Columbia University Neurologist and Professor Dr. Olajide Williams, HHPH works with socially conscious artists and public health experts to create scalable, highly engaging, culturally responsive music and multimedia 'edutainment' tools. HHPH uses validated models of behavior change and evidenced-based research to develop original content and is committed to an iterative cycle of program evaluation, academic research and resource refinement.

About ABG Medical Advisory Council
A group of highly acclaimed medical professionals are joining together to bring their knowledge and expertise to form the ABG Medical Advisory Council. The Council is chaired by Dr. Olajide Williams, Chief Medical Officer of Neurology, Columbia University and includes Dr. Amelia Boehme, Assistant Professor of Epidemiology in Neurology, Columbia University, Dr. Robert Bollinger, Professor of Infectious Diseases, Johns Hopkins University School of Medicine, Dr. Gbenga Ogedegbe, Professor and Director, Division of Health & Behavior in the Department of Population Health. NYU Grossman School of Medicine, and Dr. Angela Rasmussen, Associate Research Scientist, Columbia University.

Forward-Looking Statements
Certain statements in this press release constitute 'forward-looking statements.' Any statements that refer to expectations or other characterizations of future events, circumstances or results, including all statements related to the ABG Medical Advisory Council and the agreements described herein, are forward-looking statements. Various risks that could cause future results to differ from those expressed by the forward-looking statements included in this press release include, but are not limited to, factors described in the 'Risk Factors' and 'Forward-Looking Statements' sections of Avis Budget Group's Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Report on Form 10-Q for the three months ended March 31, 2020. Accordingly, actual results, performance, achievements and events could differ materially from those stated, anticipated or implied by such forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

Contact:
pr@avisbudget.com

Disclaimer

Avis Budget Group Inc. published this content on 10 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 July 2020 14:40:02 UTC

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Financials (USD)
Sales 2020 5 373 M - -
Net income 2020 -814 M - -
Net Debt 2020 2 463 M - -
P/E ratio 2020 -2,72x
Yield 2020 -
Capitalization 2 194 M 2 194 M -
EV / Sales 2020 0,87x
EV / Sales 2021 0,68x
Nbr of Employees 25 600
Free-Float 50,1%
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 36,83 $
Last Close Price 31,49 $
Spread / Highest target 90,5%
Spread / Average Target 17,0%
Spread / Lowest Target -17,4%
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Managers
NameTitle
Joseph A. Ferraro President & Chief Executive Officer
Bernardo Vieira Hees Executive Chairman
John F. North Chief Financial Officer & Executive Vice President
Gerard Insall Chief Information Officer & Executive VP
Lynn Krominga Independent Director
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