Zipcar Appoints Frerk-Malte Feller as President of Zipcar Europe Frost and Sullivan Estimates European Car Sharing Market Could Reach 3 Billion Euros
CAMBRIDGE, Mass. and LONDON, Jan. 18, 2012 /PRNewswire/ -- Zipcar, Inc. (Nasdaq: ZIP), the world's leading car sharing network, today announced the appointment of Frerk-Malte Feller as its new president of Zipcar Europe. Feller's appointment comes on the heels of Zipcar's successful integration of Streetcar in the UK, along with the company's announcement of plans to take a majority stake in Barcelona-based Avancar. These initiatives in late 2011 provide a solid foundation for Zipcar's planned growth and expansion throughout Europe.
In his new role as president of Zipcar Europe, Feller will report directly to Scott Griffith, Zipcar chairman and CEO, and will be responsible for implementing and overseeing the company's planned growth strategy throughout Europe. Mr. Feller will have full operational and P&L responsibility for all of Zipcar's current and future European operations.
"With the integration of Streetcar's operations in the UK now complete, Zipcar is well positioned as one of the top car sharing operators in Europe. I am pleased to welcome Frerk-Malte Feller to the Zipcar team to lead our European expansion, as we work to bring the economic and environmental benefits of car sharing to additional markets overseas," said Scott Griffith, Zipcar chairman and CEO. "Malte's highly relevant experience with introducing and scaling innovative and disruptive businesses in European markets positions him well to head-up our European expansion efforts."
Feller will be based in Zipcar's Wimbledon office and brings deep management experience – most recently in his role as managing director for PayPal Australia. His career with the eBay Inc. family of companies spans more than twelve years, and includes positions as managing director for eBay Germany, as well as managing director of PayPal for Germany, Austria and Switzerland where he helped establish and grow the business in those markets.
According to research by Frost & Sullivan, the market for car sharing in Europe could reach 5.5 million members and 3 billion euros.
"I'm thrilled to join the Zipcar team, especially during such an exciting time in the company's history," said Feller. "We believe there is significant opportunity for growth and expansion in various European markets and I am excited to help work toward Zipcar's vision of a world in which car-sharing members outnumber car owners in cities around the world."
Zipcar is the world's leading car sharing network with approximately 650,000 members and 9,000 vehicles in urban areas and college campuses throughout the United States, Canada and the United Kingdom. Zipcar offers more than 30 makes and models of self-service vehicles by the hour or day to residents and businesses looking for an alternative to the high costs and hassles of owning a car. More information is available at www.zipcar.com.
Photos and b-roll footage are available for media purposes at www.zipcar.mediaroom.com.
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including statements with respect to our position in the European market, our potential future European growth and expansion and the market for car sharing in Europe. Among the factors that could cause our actual results to differ materially from those indicated by such forward-looking statements include our ability to profitably attract new members and retain existing members, adverse economic conditions in general and adverse economic conditions specifically affecting the markets in which we operate, our ability to compete effectively, our ability to expand into new geographic markets, and our ability to manage growth and other risks detailed in our publicly available filings with the Securities and Exchange Commission. All forward-looking statements reflect our expectations only as of the date of this release and should not be relied upon as reflecting our views, expectations or beliefs at any date subsequent to the date of this release.
SOURCE Zipcar, Inc.