CAMBRIDGE, Mass. (AP) -- Zipcar Inc. has named American Express Vice Chairman Ed Gilligan as a board member, the car sharing company said Friday.
Gilligan replaced Jill Preotle, who decided not to stand for re-election at Zipcar's annual shareholders meeting on Thursday. Preotle had served on the Cambridge, Mass., company's board since December 2002.
"Ed's expertise in global expansion, member-based product and service offerings and digital commerce will benefit us greatly as we look to continue to expand our international footprint and further innovate Zipcar service offerings for our members," Zipcar Chairman and CEO Scott Griffith said in a statement.
Zipcar, which was founded in 2000, has more than 700,000 members and 9,000 vehicles in the U.S., Canada, the U.K. and Spain. Instead of going to a rental lot, members reserve a car that's parked nearby, which they unlock with a keycard. Zipcar doesn't require members to keep the car an entire day; rather, the cars can be rented out by the hour.
The company went public in April 2011. Its shares finished at $10.75 on Thursday. They are near the lower end of their 52-week range of $9.02 to $25.88 per share.