Glenn Lurie

About Glenn Lurie

Glenn Lurie, age 59, has served on the Avis Budget Group (CAR) Board since May 2018 and is currently Audit Committee Chair and a member of the Compensation Committee; the Board has affirmatively determined he is independent under Nasdaq rules . He is a former President & CEO of AT&T Mobility and Consumer Operations (2016–2017) and AT&T Mobility (2014–2016), led AT&T’s iPhone/iPad negotiations, built AT&T’s IoT, Digital Life, and Aio/Cricket businesses, and was CEO of Synchronoss Technologies (2017–2020); he is now General Partner at Stormbreaker Ventures and serves on several private company boards, bringing CEO, technology/operations, strategy, cybersecurity, and public board experience .

Past Roles

External Roles

Board Governance

• Committee assignments: Audit Committee Chair; Compensation Committee member .
• Audit committee financial expertise: The Board determined Mr. Lurie qualifies as an SEC “audit committee financial expert” and meets Nasdaq financial sophistication .
• Independence: Board affirmed Lurie’s independence (Nasdaq) .
• Attendance and engagement: Board met 7 times in 2024; all directors attended at least 75% of Board and committee meetings; each director nominee from 2024 met the ≥75% threshold .
• Committee meeting cadence (2024): Audit=4; Compensation=4; Corporate Governance=3 .
• Audit Committee report: Signed by Glenn Lurie (Chair), affirming oversight of financial statements, auditor independence, and internal controls .
• Lead Independent Director structure: Lurie works within a Board structure featuring an Executive Chairman and a Lead Independent Director empowered to call meetings of independent directors and approve Board information/agenda flow .
• Related-person transactions oversight: Company policy routes related-person transactions ≥$120,000 to the Audit Committee; committee approves only those in shareholders’ best interests .
• Insider trading, anti-hedging/pledging: Directors prohibited from hedging, shorting, options, margin accounts, or pledging Company stock; Audit Committee monitors any proposed pledges, including by SRS under its Cooperation Agreement .

Fixed Compensation

• Structure: Non-employee directors receive a $250,000 annual retainer; additional retainers for roles: Lead Independent Director ($30,000), Audit Chair ($35,000), Audit Member ($15,000), Compensation Chair ($30,000), Compensation Member ($15,000), Corporate Governance Chair ($30,000), Corporate Governance Member ($12,000). Paid 50% cash and 50% RSUs that vest after one year; no meeting fees or director benefits .

Performance Compensation

• Directors do not receive performance-based compensation; equity is delivered as annual RSUs with one-year vesting tied to service (not to financial performance). RSU settlement for directors may be deferred under the NED Plan; no options or meeting fees disclosed for directors .

Other Directorships & Interlocks

• Current boards: Teal Communications; Blue Link Wireless; Pivotal Commware (private). Prior public board: Synchronoss Technologies .
• Compensation Committee interlocks: Committee comprises independent directors (Chair: Karthik Sarma; members Lynn Krominga, Glenn Lurie); no member is/was an officer/employee; no executive officer serves on another company’s compensation committee/board where any CAR director is an executive .
• Controlling shareholder context: SRS beneficially owns ~49.6% of CAR; under a Cooperation Agreement, SRS agreed to proportional voting above 35% .

Expertise & Qualifications

• CEO experience; technology/operations/strategy/business development; cybersecurity experience; public company board experience .

Equity Ownership

Less than 1% is denoted by “” in the proxy .

Additional alignment indicators:

• Outstanding director stock awards/deferred units at FY-end: Lurie held 14,334 RSUs/deferred stock units (including dividend equivalents) at year-end .
• Director stock ownership guidelines: Must retain 50% of net shares until holding 5× annual cash retainer; as of Dec 31, 2024, all current directors (except Hariharan) met/exceeded thresholds, implying Lurie is in compliance .
• Anti-hedging/pledging: Directors prohibited from hedging/pledging Company stock; trades require pre-clearance and must occur in open windows .

Governance Assessment

• Strengths: Independent director; Audit Chair and designated audit committee financial expert; active oversight via Audit Committee report; met attendance threshold; clear non-employee director pay structure with balanced cash/RSUs and strong ownership guidelines; robust anti-hedging/recoupment policies .
• Watch items: CAR’s concentrated ownership (SRS at ~49.6%) and an affiliate-related transaction with AMV (vehicle leases/services) increase the importance of independent oversight—appropriately positioned under Lurie’s Audit Committee . Compensation Committee is independent and discloses no interlocks; say-on-pay support remained high at 98.5% in 2024, signaling investor confidence in pay governance .
• Governance improvements: 2025 proposals recommended by the Board to modernize governance (e.g., removing supermajority provisions, revising removal/vote requirements, officer exculpation) indicate responsiveness to market practice and shareholder rights; Lurie, as Audit Chair within a fully independent committee structure, supports these governance quality signals .