Dollar Thrifty Automotive Group Employees Receive Over $15 Million Profit-Sharing/Incentive Compensation BonusesContact:
Terri Willson Snow
Executive Director - Investor Relations
TULSA, OKLAHOMA, February 14, 2003: Dollar Thrifty Automotive Group, Inc. (NYSE:DTG) today distributed over $15 million in profit-sharing and incentive compensation bonuses. Approximately $6.6 million was awarded to employees based in Oklahoma. In addition to the more than 1,150 employees based at the Tulsa headquarters, the company employs approximately 250 workers at reservation centers in Tahlequah and Okmulgee.
Joseph E. Cappy, Chairman, Chief Executive Officer and President, said “Last year was another challenging year for the travel industry, however, our company achieved impressive results. Knowing our business was facing dramatic and uncertain market conditions, we began 2002 by asking our employees to initiate critical cost saving measures. We also challenged them to reach some very aggressive annual profit targets. These employees adjusted on the fly, worked together as a team and exceeded our objectives. Presenting our employees with these bonuses is an opportunity to say thank you for an exceptional job.”
Cappy noted that bonus checks were distributed to employees, including part-timers, who have been with the company at least five months. “It is particularly impressive to note that our U.S. field management employees achieved the maximum payout of $5.1 million,” Cappy said. “These field managers did a phenomenal job in picking up the pieces after the September 11 tragedy. In addition, almost $4.2 million went to employees who are not at the management level.”
About Dollar Rent A Car
Dollar Thrifty Automotive group, Inc. is headquartered in Tulsa, Oklahoma, and has over 6,000 worldwide employees. Focused on being the low-cost provider in the car rental industry, the company’s brands, Dollar Rent A Car and Thrifty Car Rental, serve value conscious leisure travelers in more than 70 countries. With operations at most major airports, Dollar and Thrifty have over 800 corporate and franchised locations in the United States and Canada.