Dollar Thrifty CFO Thompson To Replace Retiring CEO Paxton

Dollar Thrifty Automotive Group late last night announced the promotion of senior executive vice president and CFO Scott Thompson to president and CEO, effective today. He also will join the company's board of directors. Thompson, who joined Dollar Thrifty in May, succeeds Gary Paxton.

Paxton will remain as a director of the Dollar Thrifty and will serve as senior advisor until his retirement at the end of the year. He will provide consulting services to Dollar Thrifty until Oct. 31, 2009.

"Gary was instrumental in bringing me to the company, and I am honored that he and the Board have placed their confidence in me and the team at this important time," Thompson said in a statement. "Although market conditions have created significant challenges for the company, Dollar Thrifty has two strong value brands and a group of very dedicated employees, and I am confident in its future."

Succeeding Thompson as executive vice president and CFO is H. Clifford Buster III, who will begin his position on Oct. 27. Prior to joining Dollar Thrifty, Buster was vice president of finance and treasurer of Helix Energy Solutions Group Inc.

Dollar Thrifty also announced senior executive vice president R. Scott Anderson will assume a broader role, taking responsibility for global sales and marketing initiatives and corporate store and franchise operations.