CAR rental companies Alamo and National are to float on the New York Stock Exchange in January as one new organisation.
The two companies will be spun off from US parent AutoNation Rental Corporation into a new company, ANC Rental Corporation.
ANC will be headed in the UK by president international and chief operating officer Dennis Custage. He will report to ANC president and chief executive officer Michael Karsner, who is currently AutoNation chief financial officer.
Karsner will in turn report to Michael Egan who comes into ANC as chairman. He was chairman of Alamo before it was sold to AutoNation, then called Republic Industries, in 1996.
Meanwhile, AutoNation president Europe, Middle East and Africa and chief operating officer Geoff Corbett, who is leaving at the end of the year after 32 years in the car rental industry, is to start a new career in the e-commerce industry.