Quantcast
Transport Cars

Zipcar CEO leaves the day after $500 million buyout deal with Avis closes

Mar 15, 2013 6:36 pm

Zipcar’s CEO Scott Griffith announced his resignation today, the day after Avis completed its $500 million acquisition of the car-sharing service he joined in start-up mode back in 2003.

Fortune.com: It’s obviously not unusual for leadership changes after a merger, but it’s a bit odd that neither Avis nor ZipCar announced that such a move was coming (such as in yesterday’s press release). Instead, the news leaks out in a Friday afternoon memo. Not exactly a gallant send-off for someone who 10 years ago agreed to take over a tiny start-up, and helped it trail-blaze what is now commonly known as the “sharing economy.”

The letter from Griffith to employees, embedded below (via Fortune):

Letter From Scott Griffith

Tags: ,

Next Up

More on Skift

Emirates Tries to Tap Into Flyers’ Inner Children With Its First Instagram Hack
International Air Traffic Snapshot for February 2015
Yelp Is Getting Into the Tours and Activities Booking Business
6 Best Practices for Developing a User-Generated Content Strategy